Everus Construction Group, Inc. $ECG Shares Sold by Lone Peak Global Investors LLC

Lone Peak Global Investors LLC trimmed its position in shares of Everus Construction Group, Inc. (NYSE:ECG) by 6.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 115,437 shares of the company’s stock after selling 7,899 shares during the quarter. Everus Construction Group makes up approximately 2.6% of Lone Peak Global Investors LLC’s investment portfolio, making the stock its 20th largest position. Lone Peak Global Investors LLC’s holdings in Everus Construction Group were worth $19,157,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new position in Everus Construction Group in the 2nd quarter valued at $28,000. Root Financial Partners LLC grew its holdings in shares of Everus Construction Group by 126.0% during the first quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock worth $26,000 after buying an additional 121 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Everus Construction Group in the second quarter valued at about $36,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Everus Construction Group in the second quarter valued at about $58,000. Finally, Geneos Wealth Management Inc. raised its position in shares of 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 buying an additional 198 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ECG. Oppenheimer restated an “outperform” rating and set a $200.00 price target on shares of Everus Construction Group in a research report on Thursday, August 6th. DA Davidson initiated coverage on shares of Everus Construction Group in a report on Friday, August 21st. They issued a “buy” rating and a $168.00 price objective for the company. Cantor Fitzgerald decreased 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 research note on Thursday, August 13th. Guggenheim boosted their target price on Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, Freedom Capital upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Everus Construction Group has an average rating of “Moderate Buy” and an average target price of $169.50.

Insider Transactions at Everus Construction Group

In other news, Director David M. Sparby bought 1,000 shares of Everus Construction Group stock in a transaction on Monday, August 17th. The shares were bought at an average cost of $144.95 per share, with a total value 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 at 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 transaction, the vice president owned 18,950 shares in the company, valued at $2,590,275.50. The trade was a 14.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is owned by insiders.

Everus Construction Group Stock Down 1.2%

Shares of ECG opened at $113.70 on Wednesday. Everus Construction Group, Inc. has a 52-week low of $73.00 and a 52-week high of $171.58. The company has a market capitalization of $5.81 billion, a PE ratio of 22.88 and a beta of 2.29. The stock has a fifty day simple moving average of $134.40 and a two-hundred day simple moving average of $133.76. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.50. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The company’s revenue was up 33.7% compared to the same quarter last year. As a group, equities analysts forecast that Everus Construction Group, Inc. will post 5.25 EPS for the current 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.