Point72 Asset Management L.P. Purchases Shares of 128,747 Everus (NYSE:ECG)

Point72 Asset Management L.P. acquired a new position in shares of Everus (NYSE:ECG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 128,747 shares of the company's stock, valued at approximately $8,465,000. Point72 Asset Management L.P. owned 0.25% of Everus at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SRS Capital Advisors Inc. acquired a new position in shares of Everus in the fourth quarter valued at about $26,000. Principal Securities Inc. bought a new stake in Everus in the 4th quarter valued at about $27,000. HighMark Wealth Management LLC acquired a new position in shares of Everus during the 4th quarter worth approximately $28,000. Crews Bank & Trust bought a new position in shares of Everus during the fourth quarter worth approximately $29,000. Finally, Quarry LP acquired a new stake in shares of Everus in the fourth quarter valued at approximately $36,000.

Analyst Upgrades and Downgrades

ECG has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on Everus from $55.00 to $71.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. DA Davidson upped their target price on Everus from $58.00 to $68.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th.

Everus Stock Performance

ECG stock traded up $0.89 during mid-day trading on Thursday, hitting $57.70. The stock had a trading volume of 618,701 shares, compared to its average volume of 742,895. The firm has a fifty day simple moving average of $42.27 and a 200 day simple moving average of $54.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.50. Everus has a 52 week low of $31.38 and a 52 week high of $77.93.

Everus (NYSE:ECG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.29. The firm had revenue of $826.63 million for the quarter, compared to analyst estimates of $676.35 million. The company's revenue for the quarter was up 32.1% on a year-over-year basis. On average, equities research analysts expect that Everus will post 2.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Everus news, CFO Maximillian J. Marcy bought 1,300 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were purchased at an average price of $38.99 per share, for a total transaction of $50,687.00. Following the completion of the transaction, the chief financial officer now directly owns 5,508 shares in the company, valued at approximately $214,756.92. The trade was a 30.89% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Edward A. Ryan bought 1,400 shares of the stock in a transaction on Tuesday, February 25th. The shares were acquired at an average cost of $38.02 per share, with a total value of $53,228.00. Following the purchase, the director now owns 14,928 shares of the company's stock, valued at approximately $567,562.56. This represents a 10.35% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company's stock.

Everus Company 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.