Lone Peak Global Investors LLC Lowers Stake in Everus Construction Group, Inc. $ECG

Lone Peak Global Investors LLC lessened its stake in shares of Everus Construction Group, Inc. (NYSE:ECGFree Report) by 6.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,437 shares of the company’s stock after selling 7,899 shares during the quarter. Everus Construction Group makes up about 2.6% of Lone Peak Global Investors LLC’s portfolio, making the stock its 20th biggest position. Lone Peak Global Investors LLC owned approximately 0.23% of Everus Construction Group worth $19,157,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Royal Bank of Canada boosted its position in Everus Construction Group by 155.0% during the first quarter. Royal Bank of Canada now owns 48,839 shares of the company’s stock valued at $1,811,000 after purchasing an additional 29,689 shares in the last quarter. Millennium Management LLC increased its position in shares of Everus Construction Group by 42.7% during the first quarter. Millennium Management LLC now owns 244,421 shares of the company’s stock worth $9,066,000 after purchasing an additional 73,128 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Everus Construction Group by 74.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company’s stock valued at $6,631,000 after buying an additional 76,252 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Everus Construction Group by 33.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 140,397 shares of the company’s stock valued at $5,207,000 after acquiring an additional 34,868 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Everus Construction Group by 184.4% during the 1st quarter. Jane Street Group LLC now owns 71,323 shares of the company’s stock valued at $2,645,000 after purchasing an additional 46,247 shares in the last quarter.

Everus Construction Group Stock Down 1.2%

Shares of ECG opened at $113.70 on Wednesday. The firm has a market cap of $5.81 billion, a P/E ratio of 22.88 and a beta of 2.29. Everus Construction Group, Inc. has a 12 month low of $73.00 and a 12 month high of $171.58. The stock’s 50 day moving average is $134.40 and its two-hundred day moving average is $133.76. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34.

Everus Construction Group (NYSE:ECGGet Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $1.08 billion. During the same period in the prior year, the company posted $1.03 EPS. The business’s quarterly revenue was up 33.7% on a year-over-year basis. Analysts predict that Everus Construction Group, Inc. will post 5.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David M. Sparby acquired 1,000 shares of Everus Construction Group stock in a transaction on Monday, August 17th. The stock was bought at an average cost of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the transaction, the director owned 19,658 shares of the company’s stock, valued at approximately $2,849,427.10. The trade was a 5.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paul R. Sanderson sold 3,300 shares of the 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 transaction, the vice president directly owned 18,950 shares in the company, valued at approximately $2,590,275.50. The trade was a 14.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ECG. Cantor Fitzgerald cut their price objective on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating on the stock in a report on Thursday, August 13th. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a research note on Friday, May 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Everus Construction Group in a report on Tuesday, August 4th. Zacks Research raised shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective on shares of Everus Construction Group in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Everus Construction Group has an average rating of “Moderate Buy” and a consensus target price of $169.50.

Read Our Latest Stock Report on Everus Construction Group

Everus Construction Group Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ECG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Everus Construction Group, Inc. (NYSE:ECGFree Report).

Institutional Ownership by Quarter for Everus Construction Group (NYSE:ECG)

Receive News & Ratings for Everus Construction Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everus Construction Group and related companies with MarketBeat.com's FREE daily email newsletter.