VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Stake in Everus Construction Group, Inc. $ECG

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Everus Construction Group, Inc. (NYSE:ECG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,974 shares of the company’s stock, valued at approximately $3,813,000.

A number of other institutional investors also recently bought and sold shares of ECG. Parallel Advisors LLC raised its position in shares of Everus Construction Group by 6.7% during the 1st quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock worth $142,000 after acquiring an additional 75 shares in the last quarter. Root Financial Partners LLC boosted its holdings in shares of 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 in the last quarter. Maryland State Retirement & Pension System lifted its position in Everus Construction Group by 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 10,379 shares of the company’s stock valued at $888,000 after acquiring an additional 146 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Everus Construction Group in the second quarter valued at $28,000. Finally, Geneos Wealth Management Inc. boosted its stake in Everus Construction Group by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock valued at $25,000 after acquiring an additional 198 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have issued reports on ECG. Cantor Fitzgerald dropped 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. Guggenheim raised their price target 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. DA Davidson started coverage on shares of Everus Construction Group in a research report on Friday, August 21st. They set a “buy” rating and a $168.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Everus Construction Group in a report on Thursday, August 6th. Finally, Zacks Research upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $169.50.

Everus Construction Group Stock Performance

Shares of ECG stock opened at $117.56 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. The stock has a 50 day simple moving average of $129.32 and a 200-day simple moving average of $134.32. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 23.65 and a beta of 2.28. Everus Construction Group, Inc. has a 12-month low of $76.55 and a 12-month high of $171.58.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings results 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. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. On average, equities analysts forecast that Everus Construction Group, Inc. will post 5.25 EPS for the current year.

Insider Transactions at Everus Construction Group

In related news, Director David Sparby acquired 1,000 shares of Everus Construction Group stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average price of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the purchase, the director directly owned 19,658 shares of the company’s stock, valued at approximately $2,849,427.10. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul Sanderson sold 3,300 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was 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 in the company, valued at approximately $2,590,275.50. This represents 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.

Everus Construction Group 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.