Northern Trust Corp Invests $30.08 Million in Everus (NYSE:ECG)

Northern Trust Corp acquired a new stake in shares of Everus (NYSE:ECG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 457,424 shares of the company's stock, valued at approximately $30,076,000. Northern Trust Corp owned 0.90% of Everus at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. purchased a new stake in Everus during the fourth quarter valued at approximately $26,000. Principal Securities Inc. purchased a new stake in shares of Everus in the fourth quarter worth approximately $27,000. HighMark Wealth Management LLC purchased a new stake in shares of Everus in the fourth quarter worth approximately $28,000. Crews Bank & Trust purchased a new stake in shares of Everus in the fourth quarter worth approximately $29,000. Finally, Mendota Financial Group LLC purchased a new stake in shares of Everus in the fourth quarter worth approximately $36,000.

Analyst Ratings Changes

ECG has been the topic of several recent analyst reports. Stifel Nicolaus reduced their price target on Everus from $67.00 to $55.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. DA Davidson increased their price target on Everus from $58.00 to $68.00 and gave the stock a "neutral" rating in a report on Thursday.

Insider Activity

In other news, Director Edward A. Ryan acquired 1,400 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was bought at an average cost of $38.02 per share, for a total transaction of $53,228.00. Following the purchase, the director now owns 14,928 shares in the company, valued at approximately $567,562.56. This represents a 10.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Maximillian J. Marcy acquired 1,300 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were purchased at an average price of $38.99 per share, with a total value of $50,687.00. Following the completion of the purchase, the chief financial officer now owns 5,508 shares in the company, valued at $214,756.92. This represents a 30.89% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 3,750 shares of company stock valued at $153,853 in the last quarter. 0.21% of the stock is currently owned by company insiders.

Everus Price Performance

NYSE ECG traded down $1.83 on Friday, reaching $59.41. 148,894 shares of the stock traded hands, compared to its average volume of 745,462. The company has a current ratio of 1.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average price of $40.62 and a 200-day moving average price of $54.27. Everus has a 12 month low of $31.38 and a 12 month high of $77.93.

Everus (NYSE:ECG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.29. The company had revenue of $826.63 million during the quarter, compared to analysts' expectations of $676.35 million. As a group, equities research analysts forecast that Everus will post 2.49 EPS for the current fiscal year.

About Everus

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.