Public Employees Retirement System of Ohio Purchases Shares of 29,455 Everus Construction Group, Inc. $ECG

Key Points

• Public Employees Retirement System of Ohio acquired 29,455 Everus Construction Group shares worth approximately $4.9 million during the second quarter, while several other institutional investors also initiated positions.
• Everus reported a strong quarter, with EPS of $1.64 versus the $1.14 consensus and revenue of $1.23 billion, up 33.7% year over year.
• Analysts maintain a generally positive outlook, giving the stock a “Moderate Buy” consensus rating and an average price target of $169.50; insider activity was mixed, with a director buying shares and a vice president selling.

Public Employees Retirement System of Ohio acquired a new position in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 29,455 shares of the company's stock, valued at approximately $4,888,000. Public Employees Retirement System of Ohio owned 0.06% of Everus Construction Group at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ECG. Capstone Investment Advisors LLC purchased a new stake in Everus Construction Group in the second quarter valued at approximately $247,000. Corient Private Wealth LP acquired a new position in Everus Construction Group during the second quarter worth approximately $768,000. Bank of America Corp DE purchased a new position in Everus Construction Group during the second quarter worth approximately $39,784,000. Man Group plc purchased a new position in Everus Construction Group during the second quarter worth approximately $1,163,000. Finally, Jupiter Topco LLC acquired a new position in shares of Everus Construction Group in the 2nd quarter valued at $4,785,000.

Everus Construction Group Stock Performance

Shares of NYSE:ECG opened at $112.51 on Thursday. The business's 50-day simple moving average is $133.48 and its 200 day simple moving average is $133.83. The company has a market cap of $5.75 billion, a P/E ratio of 22.64 and a beta of 2.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59. Everus Construction Group, Inc. has a one year low of $73.00 and a one year high of $171.58.

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

Insiders Place Their Bets

In other news, Director David M. Sparby purchased 1,000 shares of the company's stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average price of $144.95 per share, with a total value of $144,950.00. Following the purchase, the director directly owned 19,658 shares of the company's stock, valued at approximately $2,849,427.10. This represents a 5.36% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Paul R. Sanderson sold 3,300 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $136.69, for a total transaction of $451,077.00. Following the completion of the transaction, the vice president owned 18,950 shares in the company, valued at $2,590,275.50. This represents a 14.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on ECG shares. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a research note on Friday, May 8th. Freedom Capital raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Guggenheim lifted their target price on Everus Construction Group from $160.00 to $184.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Zacks Research raised Everus Construction Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 25th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Everus Construction Group in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $169.50.

Everus Construction Group 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. Everus Construction Group is based in BISMARCK, N.D.

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