Deutsche Bank AG Invests $27.19 Million in Everus Construction Group, Inc. $ECG

Deutsche Bank AG acquired a new position in shares of Everus Construction Group, Inc. (NYSE:ECG) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 163,820 shares of the company’s stock, valued at approximately $27,186,000.

Several other institutional investors have also recently bought and sold shares of ECG. Wasatch Advisors LP raised its holdings in shares of Everus Construction Group by 39.7% in the first quarter. Wasatch Advisors LP now owns 3,017,249 shares of the company’s stock valued at $356,216,000 after purchasing an additional 856,912 shares during the last quarter. Invesco Ltd. grew its position in Everus Construction Group by 86.4% in the third 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 in the last quarter. Alliancebernstein L.P. increased its stake in Everus Construction Group by 5.7% in the 2nd quarter. Alliancebernstein L.P. now owns 1,350,871 shares of the company’s stock valued at $85,821,000 after buying an additional 72,775 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Everus Construction Group by 109.9% during the 1st quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock worth $151,225,000 after buying an additional 670,646 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Everus Construction Group by 147,209.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company’s stock worth $107,889,000 after buying an additional 1,260,117 shares during the last quarter.

Everus Construction Group Price Performance

NYSE:ECG opened at $125.91 on Friday. The company has a market cap of $6.43 billion, a P/E ratio of 25.33 and a beta of 2.37. The firm’s fifty day moving average price is $139.89 and its two-hundred day moving average price is $132.34. Everus Construction Group, Inc. has a one year low of $73.00 and a one year high of $171.58. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.59 and a quick ratio of 1.53.

Everus Construction Group (NYSE:ECG) last announced its earnings results on Tuesday, August 4th. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.14 by $0.50. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.08 billion. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. Everus Construction Group’s revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. Equities analysts expect that Everus Construction Group, Inc. will post 5.23 earnings per share for the current year.

Insider Activity at Everus Construction Group

In other news, Director David M. Sparby bought 1,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was bought at an average price of $144.95 per share, with a total value of $144,950.00. Following the completion of the acquisition, the director owned 19,658 shares of the company’s stock, valued at $2,849,427.10. This represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Paul R. 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 sale, the vice president directly owned 18,950 shares of the company’s stock, valued at approximately $2,590,275.50. The trade was a 14.83% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ECG. DA Davidson started coverage on Everus Construction Group in a research note on Thursday. They set a “buy” rating and a $168.00 price objective on the stock. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a research note on Friday, May 8th. Freedom Capital raised shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Cantor Fitzgerald dropped their target price on shares of Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating on the stock in a report on Thursday, August 13th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $200.00 target price on shares of Everus Construction Group in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $169.50.

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.