Everus Construction Group (NYSE:ECG – Free Report) had its target price lowered by Cantor Fitzgerald from $174.00 to $152.00 in a research report released on Thursday morning, MarketBeat.com reports. The brokerage currently has a neutral rating on the stock.
Several other research firms have also weighed in on ECG. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective on shares of Everus Construction Group in a research note on Thursday, August 6th. Guggenheim increased their target price on shares of Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a research note on Friday, May 8th. Zacks Research cut shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Freedom Capital raised shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $158.50.
Check Out Our Latest Stock Report on ECG
Everus Construction Group Trading Up 2.7%
Everus Construction Group (NYSE:ECG – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.50. The business had revenue of $1.23 billion during 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 firm’s revenue was up 33.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 earnings per share. As a group, equities research analysts forecast that Everus Construction Group will post 5.23 earnings per share for the current fiscal year.
Insider Buying and Selling at Everus Construction Group
In related news, VP Paul R. Sanderson sold 3,300 shares of the company’s 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 completion of the sale, the vice president directly owned 18,950 shares of the company’s stock, valued at approximately $2,590,275.50. This represents a 14.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. First Trust Advisors LP grew its holdings in Everus Construction Group by 109.9% in the 1st quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock valued at $151,225,000 after buying an additional 670,646 shares during the last quarter. Fifth Third Bancorp increased its position in Everus Construction Group by 9,475.7% in the 1st quarter. Fifth Third Bancorp now owns 32,653 shares of the company’s stock worth $3,855,000 after buying an additional 32,312 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Everus Construction Group by 120.8% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 51,474 shares of the company’s stock worth $4,404,000 after buying an additional 28,164 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Everus Construction Group during the fourth quarter worth approximately $924,000. Finally, Jackson Creek Investment Advisors LLC bought a new stake in shares of Everus Construction Group in the fourth quarter valued at approximately $393,000.
About Everus Construction Group
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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