Polar Asset Management Partners Inc. Makes New Investment in Everus (NYSE:ECG)

Polar Asset Management Partners Inc. acquired a new position in shares of Everus (NYSE:ECG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 95,600 shares of the company's stock, valued at approximately $6,286,000. Polar Asset Management Partners Inc. owned approximately 0.19% of Everus at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. acquired a new stake in shares of Everus during the fourth quarter worth $365,965,000. Dimensional Fund Advisors LP purchased a new position in shares of Everus in the fourth quarter valued at $120,578,000. Invesco Ltd. acquired a new stake in Everus during the 4th quarter valued at approximately $65,337,000. Alliancebernstein L.P. acquired a new stake in shares of Everus during the fourth quarter worth approximately $53,131,000. Finally, American Century Companies Inc. bought a new stake in shares of Everus in the 4th quarter worth about $49,650,000.

Everus Price Performance

Everus stock traded down $0.75 during trading hours on Thursday, hitting $58.03. 307,062 shares of the company traded hands, compared to its average volume of 733,959. Everus has a 1-year low of $31.38 and a 1-year high of $77.93. The firm's 50-day simple moving average is $44.13 and its two-hundred day simple moving average is $54.42. The company has a quick ratio of 1.50, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Everus (NYSE:ECG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.29. The company had revenue of $826.63 million for the quarter, compared to analyst estimates of $676.35 million. The company's revenue was up 32.1% compared to the same quarter last year. On average, sell-side analysts predict that Everus will post 2.49 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ECG. Stifel Nicolaus boosted their price objective on Everus from $55.00 to $71.00 and gave the company a "buy" rating in a research report on Friday, May 16th. DA Davidson boosted their price objective on Everus from $58.00 to $68.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th.

Everus 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.