DA Davidson upgraded shares of Everus Construction Group (NYSE:ECG – Free Report) to a strong-buy rating in a research report report published on Friday,Zacks.com reports.
Several other equities analysts also recently commented on ECG. Oppenheimer restated an “outperform” rating and set a $200.00 target price on shares of Everus Construction Group in a research report on Thursday, August 6th. Zacks Research cut Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Everus Construction Group in a research note on Tuesday, August 4th. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a report on Friday, May 8th. Finally, Guggenheim lifted their target price on shares of Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $169.50.
Read Our Latest Analysis on ECG
Everus Construction Group Stock Performance
Everus Construction Group (NYSE:ECG – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.50. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.08 billion. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.The company’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. Research analysts anticipate that Everus Construction Group will post 5.23 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, VP Paul R. Sanderson sold 3,300 shares of the company’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 transaction, the vice president owned 18,950 shares in the company, valued at $2,590,275.50. This represents a 14.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David M. Sparby acquired 1,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were bought at an average cost of $144.95 per share, for a total transaction of $144,950.00. Following the acquisition, the director owned 19,658 shares in the company, valued at approximately $2,849,427.10. The trade was a 5.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.33% of the company’s stock.
Hedge Funds Weigh In On Everus Construction Group
A number of institutional investors have recently modified their holdings of the stock. Concurrent Investment Advisors LLC acquired a new position in shares of Everus Construction Group during the second quarter worth approximately $244,000. Nykredit A S acquired a new stake in shares of Everus Construction Group in the second quarter valued at approximately $352,000. Chesapeake Wealth Management acquired a new stake in shares of Everus Construction Group in the second quarter valued at approximately $244,000. Piedmont Capital Management LLC bought a new position in Everus Construction Group in the 2nd quarter worth approximately $237,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Everus Construction Group by 27.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,046 shares of the company’s stock worth $24,568,000 after purchasing an additional 32,131 shares during the last quarter.
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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