Everus Construction Group, Inc. $ECG Stock Acquired by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its position in Everus Construction Group, Inc. (NYSE:ECG) by 28.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,483 shares of the company’s stock after acquiring an additional 5,884 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Everus Construction Group were worth $3,112,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ECG. Root Financial Partners LLC purchased a new stake in shares of Everus Construction Group during the third quarter worth approximately $25,000. Global Retirement Partners LLC purchased a new position in Everus Construction Group in the 2nd quarter valued at $28,000. TD Waterhouse Canada Inc. lifted its holdings in Everus Construction Group by 82.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 276 shares of the company’s stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Everus Construction Group during the 2nd quarter worth $36,000. Finally, Retirement Wealth Solutions LLC acquired a new stake in Everus Construction Group during the 2nd quarter worth $39,000.

Analysts Set New Price Targets

ECG has been the subject of a number of research reports. Cantor Fitzgerald dropped 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. Weiss Ratings raised shares of Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. 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. Guggenheim upped their price objective 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. Finally, Zacks Research downgraded shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $169.50.

Insider Activity

In other news, Director David Sparby acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average cost of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the transaction, the director owned 19,658 shares in the company, valued at approximately $2,849,427.10. This trade represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul Sanderson sold 3,300 shares of Everus Construction Group stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $136.69, for a total transaction of $451,077.00. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. 0.33% of the stock is currently owned by company insiders.

Everus Construction Group Stock Down 5.5%

Shares of ECG opened at $102.07 on Friday. Everus Construction Group, Inc. has a 52-week low of $78.14 and a 52-week high of $171.58. The company has a market capitalization of $5.21 billion, a PE ratio of 20.54 and a beta of 2.27. The stock has a fifty day simple moving average of $114.73 and a two-hundred day simple moving average of $125.22. 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 posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.14 by $0.50. The business had revenue of $1.23 billion for 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 quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 EPS. As a group, equities analysts forecast that Everus Construction Group, Inc. will post 5.25 EPS for the current year.

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.