Jupiter Topco LLC Makes New Investment in Everus Construction Group, Inc. $ECG

Key Points

• Jupiter Topco LLC purchased 28,832 shares of Everus Construction Group during the second quarter, valued at approximately $4.8 million and representing about 0.06% of the company.
• Everus reported strong quarterly results, with EPS of $1.64 versus the $1.14 consensus and revenue of $1.23 billion, up 33.7% year over year. Analysts expect full-year EPS of $5.25.
• ECG shares opened at $114.69, while analysts maintain a “Moderate Buy” consensus and an average price target of $169.50; insider activity included both a vice president’s stock sale and a director’s purchase.

Jupiter Topco LLC purchased a new stake in Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 28,832 shares of the company's stock, valued at approximately $4,785,000. Jupiter Topco LLC owned approximately 0.06% of Everus Construction Group as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. First Trust Advisors LP grew its stake in Everus Construction Group by 109.9% in the 1st quarter. First Trust Advisors LP now owns 1,280,916 shares of the company's stock worth $151,225,000 after buying an additional 670,646 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Everus Construction Group by 9,475.7% during the 1st quarter. Fifth Third Bancorp now owns 32,653 shares of the company's stock worth $3,855,000 after acquiring an additional 32,312 shares during the last quarter. Jackson Creek Investment Advisors LLC bought a new stake in shares of Everus Construction Group during the 4th quarter worth $393,000. GSA Capital Partners LLP purchased a new position in Everus Construction Group in the fourth quarter worth $924,000. Finally, Sierra Summit Advisors LLC purchased a new position in Everus Construction Group in the fourth quarter worth $808,000.

Everus Construction Group Stock Performance

Everus Construction Group stock opened at $114.69 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $5.86 billion, a PE ratio of 23.08 and a beta of 2.37. The firm has a fifty day simple moving average of $135.26 and a two-hundred day simple moving average of $133.68. Everus Construction Group, Inc. has a twelve month low of $73.00 and a twelve month high of $171.58.

Everus Construction Group (NYSE:ECG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.50. The firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.08 billion. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.The company's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share. Research analysts expect that Everus Construction Group, Inc. will post 5.25 EPS for the current year.

Insider Activity

In other Everus Construction Group news, VP Paul R. Sanderson sold 3,300 shares of Everus Construction Group stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $136.69, for a total value of $451,077.00. Following the transaction, the vice president directly owned 18,950 shares of the company's stock, valued at $2,590,275.50. The trade was a 14.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David M. Sparby acquired 1,000 shares of the stock in a transaction on Monday, August 17th. The stock was bought at an average price of $144.95 per share, with a total value of $144,950.00. Following the transaction, the director directly owned 19,658 shares of the company's stock, valued at approximately $2,849,427.10. The trade was a 5.36% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

ECG has been the topic of a number of research reports. Oppenheimer restated an "outperform" rating and set a $200.00 price target on shares of Everus Construction Group in a research report on Thursday, August 6th. Freedom Capital upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. Zacks Research upgraded Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 25th. Stifel Nicolaus set a $172.00 price objective on Everus Construction Group in a report on Friday, May 8th. Finally, Cantor Fitzgerald dropped their target price on Everus Construction Group from $174.00 to $152.00 and set a "neutral" rating for the company in a research report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $169.50.

Everus Construction Group Profile

Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers. Everus Construction Group is based in BISMARCK, N.D.

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