Point72 Asset Management L.P. Acquires Shares of 128,747 Everus (NYSE:ECG)

Point72 Asset Management L.P. bought a new stake in Everus (NYSE:ECG) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 128,747 shares of the company’s stock, valued at approximately $8,465,000.

Several other large investors have also made changes to their positions in ECG. Principal Financial Group Inc. acquired a new position in Everus in the fourth quarter valued at about $16,241,000. Yousif Capital Management LLC bought a new position in shares of Everus in the fourth quarter valued at approximately $1,326,000. Principal Securities Inc. acquired a new position in shares of Everus in the 4th quarter worth approximately $27,000. Cascade Investment Advisors Inc. acquired a new position in shares of Everus in the 4th quarter worth approximately $1,272,000. Finally, Register Financial Advisors LLC bought a new stake in Everus during the 4th quarter worth approximately $3,167,000.

Everus Price Performance

ECG opened at $59.39 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.50. The company’s 50 day simple moving average is $41.05 and its 200-day simple moving average is $54.31. Everus has a one year low of $31.38 and a one year high of $77.93.

Everus (NYSE:ECG) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.29. The firm had revenue of $826.63 million for the quarter, compared to analyst estimates of $676.35 million. The firm’s revenue for the quarter was up 32.1% on a year-over-year basis. Sell-side analysts anticipate that Everus will post 2.49 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on Everus from $55.00 to $71.00 and gave the company a “buy” rating in a research report on Friday. DA Davidson raised their target price on Everus from $58.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday.

Insider Activity at Everus

In related news, Director Rocca Michael Della acquired 1,050 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $47.56 per share, with a total value of $49,938.00. Following the completion of the purchase, the director now directly owns 2,027 shares in the company, valued at approximately $96,404.12. This trade represents a 107.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward A. Ryan acquired 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was bought at an average price of $38.02 per share, with a total value of $53,228.00. Following the acquisition, the director now directly owns 14,928 shares of the company’s stock, valued at $567,562.56. The trade was a 10.35% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 3,750 shares of company stock worth $153,853 over the last 90 days. Insiders own 0.21% of the company’s stock.

Everus 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.