Virtus Advisers LLC Makes New Investment in Everus Construction Group, Inc. $ECG

Virtus Advisers LLC purchased a new stake in shares of Everus Construction Group, Inc. (NYSE:ECG) in the second quarter, HoldingsChannel reports. The institutional investor purchased 6,612 shares of the company’s stock, valued at approximately $1,097,000.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of 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 buying an additional 29,689 shares in 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 valued at $9,066,000 after buying an additional 73,128 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Everus Construction Group by 74.4% during the first 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% during the first 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 acquiring an additional 34,868 shares during the period. Finally, Jane Street Group LLC grew its holdings in Everus Construction Group by 184.4% during 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.

Everus Construction Group Stock Down 3.7%

ECG stock opened at $124.71 on Friday. Everus Construction Group, Inc. has a 52-week low of $73.00 and a 52-week high of $171.58. The company’s 50 day simple moving average is $140.34 and its 200-day simple moving average is $132.38. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.59 and a quick ratio of 1.53. The firm has a market capitalization of $6.37 billion, a P/E ratio of 25.09 and a beta of 2.37.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 EPS 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 business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The firm’s quarterly revenue was up 33.7% on a year-over-year basis. As a group, equities research analysts anticipate that Everus Construction Group, Inc. will post 5.23 EPS for the current year.

Insider Buying and Selling at Everus Construction Group

In other news, VP Paul R. Sanderson sold 3,300 shares of the stock in a transaction 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 completion of the sale, the vice president owned 18,950 shares in the company, valued at $2,590,275.50. This represents a 14.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David M. Sparby bought 1,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was acquired at an average cost of $144.95 per share, with a total value of $144,950.00. Following the transaction, the director owned 19,658 shares of the company’s stock, valued at $2,849,427.10. This trade represents 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 owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on ECG. Freedom Capital upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Everus Construction Group in a research report on Tuesday, August 4th. DA Davidson set a $168.00 price objective on shares of Everus Construction Group in a research note on Thursday. Oppenheimer reiterated an “outperform” rating and issued a $200.00 target price on shares of Everus Construction Group in a report on Thursday, August 6th. Finally, Guggenheim increased their target price on shares of Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $169.50.

Everus Construction Group Profile

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.