Everus Construction Group, Inc. $ECG Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its position in shares of Everus Construction Group, Inc. (NYSE:ECG) by 52.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,685 shares of the company’s stock after selling 29,000 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.05% of Everus Construction Group worth $3,136,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ECG. BlackRock Inc. acquired a new stake in Everus Construction Group during the 2nd quarter worth about $1,094,243,000. First Trust Advisors LP boosted its stake in Everus Construction Group by 109.9% in the 1st quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock worth $151,225,000 after purchasing an additional 670,646 shares during the period. De Lisle Partners LLP acquired a new position in Everus Construction Group in the 2nd quarter worth approximately $59,936,000. Bank of New York Mellon Corp purchased a new position in Everus Construction Group during the 2nd quarter worth approximately $46,211,000. Finally, Bank of America Corp DE purchased a new position in Everus Construction Group during the 2nd quarter worth approximately $39,784,000.

Everus Construction Group Stock Performance

Shares of Everus Construction Group stock opened at $76.29 on Monday. The firm has a market cap of $3.90 billion, a P/E ratio of 13.50 and a beta of 2.36. Everus Construction Group, Inc. has a fifty-two week low of $70.44 and a fifty-two week high of $171.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.53 and a quick ratio of 1.48. The firm has a 50 day simple moving average of $111.47 and a 200 day simple moving average of $125.21.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.48. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.19 billion. Everus Construction Group had a return on equity of 39.18% and a net margin of 6.20%. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 earnings per share. Sell-side analysts predict that Everus Construction Group, Inc. will post 5.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ECG has been the subject of a number of research analyst reports. Guggenheim increased their target price on Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Freedom Capital raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. DA Davidson initiated coverage on shares of Everus Construction Group in a research report on Friday, August 21st. They set a “buy” rating and a $168.00 target price on the stock. Wall Street Zen raised Everus Construction Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Oppenheimer cut their price target on Everus Construction Group from $200.00 to $170.00 and set an “outperform” rating for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Everus Construction Group has an average rating of “Moderate Buy” and an average target price of $164.50.

Insider Activity at Everus Construction Group

In related news, Director David Sparby purchased 1,000 shares of the business’s stock in a transaction dated 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 purchase, the director directly owned 19,658 shares in the company, valued at $2,849,427.10. This trade represents a 5.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.33% of the company’s stock.

Everus Construction Group Profile

Everus Construction Group provides construction services for commercial, industrial, institutional and utility customers. Its work includes electrical and mechanical construction, fire protection, and the building and maintenance of infrastructure for energy and utility systems.

The company also performs utility and civil construction, including work on electric transmission and distribution lines, underground utilities, pipelines, water and sewer systems, and transportation-related infrastructure.

Everus is headquartered in Bismarck, North Dakota, and serves customers across the United States, with operations concentrated in the central and western regions.