NewEdge Advisors LLC Lowers Stock Holdings in Everus Construction Group, Inc. $ECG

NewEdge Advisors LLC decreased its stake in shares of Everus Construction Group, Inc. (NYSE:ECG) by 23.6% in the first quarter, Holdings Channel reports. The institutional investor owned 21,802 shares of the company’s stock after selling 6,752 shares during the quarter. NewEdge Advisors LLC’s holdings in Everus Construction Group were worth $2,574,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in Everus Construction Group by 155.0% in the 1st quarter. Royal Bank of Canada now owns 48,839 shares of the company’s stock worth $1,811,000 after acquiring an additional 29,689 shares during the last quarter. Millennium Management LLC boosted its position in shares of Everus Construction Group by 42.7% during the first quarter. Millennium Management LLC now owns 244,421 shares of the company’s stock valued at $9,066,000 after buying an additional 73,128 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Everus Construction Group by 74.4% in the first quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company’s stock worth $6,631,000 after acquiring an additional 76,252 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position 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 worth $5,207,000 after purchasing an additional 34,868 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of Everus Construction Group by 184.4% in the first 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 period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ECG shares. Freedom Capital raised shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Everus Construction Group in a report on Tuesday, August 4th. Zacks Research downgraded Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Cantor Fitzgerald cut their target price 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. Finally, Guggenheim raised their price target on Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One research 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.50.

Insiders Place Their Bets

In other Everus Construction Group news, VP Paul R. Sanderson sold 3,300 shares of Everus Construction Group stock in a transaction on Friday, August 7th. The stock was 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 directly owned 18,950 shares of the company’s stock, valued at $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 at this hyperlink. 0.33% of the stock is currently owned by company insiders.

Everus Construction Group Trading Down 2.2%

ECG opened at $136.91 on Friday. The stock’s 50 day moving average price is $141.56 and its 200-day moving average price is $130.92. The stock has a market cap of $6.99 billion, a price-to-earnings ratio of 27.55 and a beta of 2.37. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59. 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 for the quarter, topping 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 business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the firm posted $1.03 earnings per share. The business’s revenue was up 33.7% compared to the same quarter last year. On average, equities analysts forecast that Everus Construction Group, Inc. will post 5.23 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.