Royal Bank of Canada Sells 21,327 Shares of Everus Construction Group, Inc. $ECG

Key Points

• Royal Bank of Canada cut its Everus Construction Group stake by 33.8% in the first quarter, selling 21,327 shares and retaining 41,709 shares valued at approximately $4.93 million.
• 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.
• Analyst sentiment remains positive but mixed: the stock has a “Moderate Buy” consensus rating and an average price target of $162.17, while shares recently traded at $140.23.

Royal Bank of Canada lowered its stake in shares of Everus Construction Group, Inc. (NYSE:ECG - Free Report) by 33.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 41,709 shares of the company's stock after selling 21,327 shares during the quarter. Royal Bank of Canada owned 0.08% of Everus Construction Group worth $4,925,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ECG. Parallel Advisors LLC raised its holdings in shares of Everus Construction Group by 6.7% in the first quarter. Parallel Advisors LLC now owns 1,200 shares of the company's stock worth $142,000 after buying an additional 75 shares during the period. Root Financial Partners LLC increased its holdings in Everus Construction Group by 126.0% during the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company's stock worth $26,000 after purchasing an additional 121 shares during the period. Maryland State Retirement & Pension System increased its stake in shares of Everus Construction Group by 1.4% during the fourth quarter. Maryland State Retirement & Pension System now owns 10,379 shares of the company's stock valued at $888,000 after buying an additional 146 shares during the period. DMKC Advisory Services LLC raised its holdings in shares of Everus Construction Group by 4.2% in the 4th quarter. DMKC Advisory Services LLC now owns 3,762 shares of the company's stock valued at $322,000 after purchasing an additional 150 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Everus Construction Group by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company's stock worth $25,000 after buying an additional 198 shares in the last quarter.

Insider Transactions at Everus Construction Group

In other Everus Construction Group news, VP Paul R. Sanderson sold 3,300 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $136.69, for a total transaction 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. This trade represents a 14.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

Everus Construction Group Trading Up 4.3%

Shares of Everus Construction Group stock opened at $140.23 on Thursday. The firm has a 50-day simple moving average of $141.91 and a two-hundred day simple moving average of $130.59. The company has a market cap of $7.16 billion, a P/E ratio of 28.22 and a beta of 2.37. Everus Construction Group, Inc. has a fifty-two week low of $72.43 and a fifty-two week high of $171.58. 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 (NYSE:ECG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.50. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.08 billion. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The company's revenue for the quarter was up 33.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 EPS. As a group, equities analysts predict that Everus Construction Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ECG shares. Glj Research started coverage on shares of Everus Construction Group in a report on Monday, April 20th. They issued a "hold" rating and a $141.00 target price for the company. Zacks Research lowered Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Cantor Fitzgerald lifted their price objective on shares of Everus Construction Group from $115.00 to $174.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Guggenheim increased their price target on Everus Construction Group from $160.00 to $184.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Everus Construction Group in a research note on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Everus Construction Group has an average rating of "Moderate Buy" and an average price target of $162.17.

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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