Paul Sanderson Sells 3,300 Shares of Everus Construction Group (NYSE:ECG) Stock

Key Points

• Everus Construction Group VP Paul Sanderson sold 3,300 shares at an average price of $136.69, generating $451,077. Following the sale, he owned 18,950 shares, a 14.83% reduction in his holdings.
• Everus reported strong quarterly results, with EPS of $1.64 versus the $1.14 consensus and revenue of $1.23 billion, up 33.7% year over year and above analyst expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $162.17, although recent ratings include both upgrades and holds. The stock recently traded at $134.40, below its 50-day average of $142.47.

Everus Construction Group, Inc. (NYSE:ECG - Get Free Report) VP Paul Sanderson sold 3,300 shares of the business's stock in a transaction dated Friday, August 7th. The shares were 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 approximately $2,590,275.50. This trade represents a 14.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Everus Construction Group Price Performance

NYSE ECG traded up $2.51 during trading hours on Tuesday, reaching $134.40. 270,953 shares of the company's stock were exchanged, compared to its average volume of 648,447. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. The stock has a market cap of $6.86 billion, a PE ratio of 27.05 and a beta of 2.37. The firm has a fifty day moving average of $142.47 and a 200-day moving average of $129.97. Everus Construction Group, Inc. has a one year low of $70.93 and a one year high of $171.58.

Everus Construction Group (NYSE:ECG - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.50. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The firm's revenue for the quarter was up 33.7% compared to the same quarter last year. On average, equities research analysts predict that Everus Construction Group, Inc. will post 4.75 earnings per share for the current fiscal year.

Institutional Trading of Everus Construction Group

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in Everus Construction Group during the second quarter worth $1,094,243,000. Wasatch Advisors LP lifted its holdings in shares of Everus Construction Group by 39.7% during the first quarter. Wasatch Advisors LP now owns 3,017,249 shares of the company's stock worth $356,216,000 after buying an additional 856,912 shares in the last quarter. Invesco Ltd. boosted its holdings in Everus Construction Group by 86.4% in the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company's stock valued at $153,984,000 after purchasing an additional 832,389 shares during the period. Alliancebernstein L.P. grew its position in Everus Construction Group by 5.7% during the second quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company's stock worth $85,821,000 after buying an additional 72,775 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Everus Construction Group by 109.9% in the first quarter. First Trust Advisors LP now owns 1,280,916 shares of the company's stock worth $151,225,000 after purchasing an additional 670,646 shares during the period.

Wall Street Analysts Forecast Growth

ECG has been the topic of a number of recent research reports. Zacks Research cut shares of Everus Construction Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Everus Construction Group in a report on Tuesday, August 4th. Oppenheimer reaffirmed an "outperform" rating and issued a $200.00 target price on shares of Everus Construction Group in a research note on Thursday, August 6th. Cantor Fitzgerald lifted their target price on Everus Construction Group from $115.00 to $174.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Finally, Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a report on Friday, May 8th. One 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.com, Everus Construction Group currently has an average rating of "Moderate Buy" and a consensus target price 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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