Tidal Investments LLC Purchases 66,034 Shares of Everus Construction Group, Inc. $ECG

Tidal Investments LLC lifted its position in Everus Construction Group, Inc. (NYSE:ECG) by 3,682.9% in the second quarter, HoldingsChannel.com reports. The firm owned 67,827 shares of the company’s stock after acquiring an additional 66,034 shares during the period. Tidal Investments LLC’s holdings in Everus Construction Group were worth $11,256,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new stake in Everus Construction Group in the 2nd quarter valued at $247,000. NewEdge Advisors LLC lifted its holdings in shares of Everus Construction Group by 3.2% during the 2nd quarter. NewEdge Advisors LLC now owns 22,504 shares of the company’s stock worth $3,735,000 after acquiring an additional 702 shares during the period. Squarepoint Ops LLC bought a new position in shares of Everus Construction Group during the 2nd quarter worth about $399,000. Nykredit A S bought a new position in shares of Everus Construction Group during the 2nd quarter worth about $352,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Everus Construction Group during the 2nd quarter valued at about $3,813,000.

Insider Activity at Everus Construction Group

In related news, VP Paul R. Sanderson sold 3,300 shares of the firm’s 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. This trade represents a 14.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David M. Sparby acquired 1,000 shares of the business’s stock in a transaction on Monday, August 17th. The stock was acquired at an average price of $144.95 per share, with a total value of $144,950.00. Following the transaction, the director owned 19,658 shares in the company, valued at approximately $2,849,427.10. The trade was a 5.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.33% of the stock is owned by insiders.

Everus Construction Group Trading Up 3.7%

Shares of Everus Construction Group stock opened at $119.49 on Friday. Everus Construction Group, Inc. has a 12-month low of $77.67 and a 12-month high of $171.58. The stock has a market capitalization of $6.10 billion, a P/E ratio of 24.04 and a beta of 2.28. The company has a 50-day simple moving average of $128.46 and a 200 day simple moving average of $134.27. 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 released its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.50. The firm 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 company’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.03 earnings per share. Research analysts expect that Everus Construction Group, Inc. will post 5.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on ECG. DA Davidson began coverage on shares of Everus Construction Group in a research note on Friday, August 21st. They issued a “buy” rating and a $168.00 target price on the stock. Weiss Ratings downgraded Everus Construction Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective on shares of Everus Construction Group in a research note on Thursday, August 6th. Cantor Fitzgerald dropped their target price on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a report on Thursday, August 13th. Finally, Guggenheim raised their target price on Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $169.50.

Everus Construction Group Company Profile

Everus Construction Group, Inc is a U.S.-based specialty contractor that provides electrical and mechanical construction services. The company supports utility, commercial, industrial, institutional, renewable energy and infrastructure customers through the design, installation, maintenance and repair of complex construction systems.

Its electrical capabilities include overhead and underground transmission and distribution, substations, power generation, communications infrastructure and renewable energy projects.