Hsbc Holdings PLC Invests $24.42 Million in Everus Construction Group, Inc. $ECG

Hsbc Holdings PLC purchased a new position in Everus Construction Group, Inc. (NYSE:ECG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 148,213 shares of the company’s stock, valued at approximately $24,421,000.

Several other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Everus Construction Group by 155.0% during the 1st quarter. Royal Bank of Canada now owns 48,839 shares of the company’s stock valued at $1,811,000 after purchasing an additional 29,689 shares during the last quarter. Millennium Management LLC increased 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 period. Goldman Sachs Group Inc. grew its holdings in shares of Everus Construction Group by 74.4% during the 1st 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 raised its holdings in Everus Construction Group by 33.0% in 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 purchasing an additional 34,868 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Everus Construction Group by 184.4% in the 1st 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 in the last quarter.

Everus Construction Group Price Performance

Everus Construction Group stock opened at $121.25 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $6.19 billion, a PE ratio of 24.40 and a beta of 2.37. Everus Construction Group, Inc. has a 12-month low of $73.00 and a 12-month high of $171.58. The firm has a 50-day moving average price of $137.10 and a 200-day moving average price of $133.46.

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

Analyst Ratings Changes

ECG has been the subject of a number of analyst reports. Stifel Nicolaus set a $172.00 price objective on Everus Construction Group in a research report on Friday, May 8th. DA Davidson began coverage on shares of Everus Construction Group in a research report on Friday, August 21st. They issued a “buy” rating and a $168.00 price target on the stock. Guggenheim lifted 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. 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. Finally, Oppenheimer reiterated an “outperform” rating and issued a $200.00 target price on shares of Everus Construction Group in a research report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $169.50.

Insider Buying and Selling

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

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.