Naya Capital Management UK Ltd. Makes New $48.62 Million Investment in Everus (NYSE:ECG)

Naya Capital Management UK Ltd. acquired a new stake in Everus (NYSE:ECG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 739,458 shares of the company's stock, valued at approximately $48,619,000. Everus accounts for about 5.1% of Naya Capital Management UK Ltd.'s portfolio, making the stock its 5th largest holding. Naya Capital Management UK Ltd. owned approximately 1.45% of Everus as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ECG. Vanguard Group Inc. bought a new stake in Everus during the fourth quarter worth $365,965,000. Dimensional Fund Advisors LP bought a new stake in shares of Everus in the fourth quarter valued at $120,578,000. Invesco Ltd. bought a new stake in shares of Everus in the fourth quarter valued at $65,337,000. Alliancebernstein L.P. bought a new stake in shares of Everus in the fourth quarter valued at $53,131,000. Finally, American Century Companies Inc. bought a new stake in shares of Everus in the fourth quarter valued at $49,650,000.

Insider Transactions at Everus

In other news, Director Rocca Michael Della acquired 1,050 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $47.56 per share, for a total transaction of $49,938.00. Following the acquisition, the director now owns 2,027 shares of the company's stock, valued at $96,404.12. This trade represents a 107.47% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Maximillian J. Marcy bought 1,300 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average price of $38.99 per share, with a total value of $50,687.00. Following the completion of the acquisition, the chief financial officer now directly owns 5,508 shares in the company, valued at $214,756.92. This trade represents a 30.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 3,750 shares of company stock worth $153,853. 0.21% of the stock is currently owned by corporate insiders.

Everus Stock Down 3.0%

Shares of NYSE:ECG traded down $1.86 during midday trading on Friday, reaching $59.39. 693,310 shares of the company traded hands, compared to its average volume of 749,156. Everus has a 12 month low of $31.38 and a 12 month high of $77.93. The firm's fifty day moving average price is $40.62 and its two-hundred day moving average price is $54.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.50 and a current ratio of 1.58.

Everus (NYSE:ECG - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.43 by $0.29. The business had revenue of $826.63 million for the quarter, compared to analysts' expectations of $676.35 million. Analysts predict that Everus will post 2.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. DA Davidson boosted their price objective on Everus from $58.00 to $68.00 and gave the company a "neutral" rating in a research note on Thursday. Stifel Nicolaus boosted their price objective on Everus from $55.00 to $71.00 and gave the company a "buy" rating in a research note on Friday.

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.