Meeder Asset Management Inc. Makes New Investment in Everus Construction Group, Inc. $ECG

Meeder Asset Management Inc. bought a new stake in Everus Construction Group, Inc. (NYSE:ECG) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,130 shares of the company’s stock, valued at approximately $685,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in shares of Everus Construction Group by 155.0% in 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 during the last quarter. Millennium Management LLC boosted its stake in 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 buying an additional 73,128 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Everus Construction Group by 74.4% in 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 grew its holdings in Everus Construction Group by 33.0% in the 1st 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 buying an additional 34,868 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Everus Construction Group by 184.4% in the 1st quarter. Jane Street Group LLC now owns 71,323 shares of the company’s stock worth $2,645,000 after acquiring an additional 46,247 shares during the last quarter.

Insiders Place Their Bets

In other news, VP Paul R. Sanderson sold 3,300 shares of the business’s 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 completion of the sale, the vice president owned 18,950 shares in the company, valued at approximately $2,590,275.50. The trade was a 14.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David M. Sparby bought 1,000 shares of the company’s stock in a transaction that occurred 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 directly owned 19,658 shares in the company, valued at approximately $2,849,427.10. The trade was a 5.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.33% of the stock is currently owned by company insiders.

Everus Construction Group Trading Down 10.0%

NYSE ECG opened at $129.07 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 25.97 and a beta of 2.37. The firm has a 50 day simple moving average of $140.85 and a 200-day simple moving average of $131.86. Everus Construction Group, Inc. has a one year low of $72.43 and a one year high of $171.58.

Everus Construction Group (NYSE:ECG) last released its earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.50. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.08 billion. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. Equities research analysts anticipate that Everus Construction Group, Inc. will post 5.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ECG. Zacks Research lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Everus Construction Group in a research report on Tuesday, August 4th. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a research note on Friday, May 8th. Guggenheim boosted their target price on shares of Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Cantor Fitzgerald dropped 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 research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Everus Construction Group has an average rating of “Moderate Buy” and a consensus target price of $158.50.

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.