Formula Growth Ltd. Invests $1.65 Million in Everus Construction Group, Inc. $ECG

Formula Growth Ltd. purchased a new position in Everus Construction Group, Inc. (NYSE:ECG) during the second quarter, Holdings Channel reports. The firm purchased 9,951 shares of the company’s stock, valued at approximately $1,651,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in Everus Construction Group by 105.3% during the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock worth $25,000 after purchasing an additional 198 shares during the period. Root Financial Partners LLC increased its holdings in Everus Construction Group by 126.0% in the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock valued at $26,000 after buying an additional 121 shares during the period. Global Retirement Partners LLC bought a new position in Everus Construction Group in the 2nd quarter valued at about $28,000. Jones Financial Companies Lllp bought a new position in Everus Construction Group in the 2nd quarter valued at about $36,000. Finally, McMillan Office Inc. acquired a new position in shares of Everus Construction Group in the 4th quarter valued at approximately $43,000.

Analyst Upgrades and Downgrades

ECG has been the subject of a number of recent analyst reports. Cantor Fitzgerald cut their price target on shares of Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a report on Thursday, August 13th. Zacks Research raised shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Stifel Nicolaus set a $172.00 price objective on shares of Everus Construction Group in a research report on Friday, May 8th. Freedom Capital upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, Guggenheim upped their target price on Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Everus Construction Group has a consensus rating of “Moderate Buy” and a consensus target price of $169.50.

Insider Activity at Everus Construction Group

In related news, VP Paul R. Sanderson sold 3,300 shares of Everus Construction Group stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David M. Sparby acquired 1,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average price of $144.95 per share, with a total value of $144,950.00. Following the completion of the transaction, the director owned 19,658 shares in the company, valued at $2,849,427.10. This represents a 5.36% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.33% of the company’s stock.

Everus Construction Group Stock Performance

NYSE:ECG opened at $121.25 on Friday. Everus Construction Group, Inc. has a twelve month low of $73.00 and a twelve month high of $171.58. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34. The stock’s 50-day simple moving average is $137.10 and its 200 day simple moving average is $133.46. The firm has a market capitalization of $6.19 billion, a PE ratio of 24.40 and a beta of 2.37.

Everus Construction Group (NYSE:ECG) last issued 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 firm had revenue of $1.23 billion during 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 business’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, analysts anticipate that Everus Construction Group, Inc. will post 5.25 EPS for the current fiscal year.

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.