Everus Construction Group, Inc. $ECG Stake Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in Everus Construction Group, Inc. (NYSE:ECG) by 43.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,247 shares of the company’s stock after selling 8,504 shares during the quarter. State of Alaska Department of Revenue’s holdings in Everus Construction Group were worth $1,321,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Everus Construction Group during the 2nd quarter worth approximately $1,094,243,000. Wasatch Advisors LP lifted its holdings in Everus Construction Group by 39.7% during the 1st quarter. Wasatch Advisors LP now owns 3,017,249 shares of the company’s stock valued at $356,216,000 after purchasing an additional 856,912 shares during the last quarter. First Trust Advisors LP lifted its holdings in Everus Construction Group by 109.9% during the 1st quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock valued at $151,225,000 after purchasing an additional 670,646 shares during the last quarter. De Lisle Partners LLP bought a new position in Everus Construction Group during the second quarter worth $59,936,000. Finally, Bank of New York Mellon Corp bought a new position in Everus Construction Group during the second quarter worth $46,211,000.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Weiss Ratings upgraded shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Oppenheimer restated an “outperform” rating and set a $200.00 target price on shares of Everus Construction Group in a research note on Thursday, August 6th. Cantor Fitzgerald reduced 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 report on Thursday, August 13th. Freedom Capital upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Finally, Zacks Research lowered shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $169.50.

Everus Construction Group Price Performance

Shares of Everus Construction Group stock opened at $105.36 on Wednesday. Everus Construction Group, Inc. has a twelve month low of $78.14 and a twelve month high of $171.58. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.34. The company has a 50-day simple moving average of $119.73 and a two-hundred day simple moving average of $134.48. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 21.20 and a beta of 2.27.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 33.7% compared to the same quarter last year. Analysts forecast that Everus Construction Group, Inc. will post 5.25 EPS for the current year.

Insider Buying and Selling

In related news, Director David M. Sparby purchased 1,000 shares of Everus Construction Group stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average price of $144.95 per share, with a total value of $144,950.00. Following the completion of the transaction, the director directly owned 19,658 shares of the company’s stock, valued at $2,849,427.10. This represents a 5.36% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Paul R. Sanderson sold 3,300 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $136.69, for a total value of $451,077.00. Following the sale, the vice president directly owned 18,950 shares in the company, valued at $2,590,275.50. This represents a 14.83% decrease in their position. The SEC filing for this sale provides additional information. 0.33% of the stock is currently owned by insiders.

About Everus Construction Group

Everus Construction Group, Inc (NYSE: ECG) is a U.S.-based infrastructure construction company that provides services to utilities, energy companies, industrial customers, commercial businesses and government entities. The company focuses on building, upgrading and maintaining essential infrastructure across the electric, natural gas, communications and industrial sectors.

Its services include the construction and maintenance of electric transmission and distribution systems, substations, renewable energy facilities, natural gas pipelines and underground utilities.