Everus Construction Group (NYSE:ECG) Upgraded by DA Davidson to “Strong-Buy” Rating

Everus Construction Group (NYSE:ECG) was upgraded by research analysts at DA Davidson to a “strong-buy” rating in a research report issued on Friday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus set a $172.00 target price on shares of Everus Construction Group in a research report on Friday, May 8th. Cantor Fitzgerald cut their price target on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating on the stock in a report on Thursday, August 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Everus Construction Group in a research report on Tuesday, August 4th. Zacks Research lowered Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Finally, Freedom Capital raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.50.

Everus Construction Group Stock Performance

Shares of ECG opened at $125.91 on Friday. The firm has a fifty day moving average of $139.89 and a 200-day moving average of $132.34. The company has a market cap of $6.43 billion, a price-to-earnings ratio of 25.33 and a beta of 2.37. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59. Everus Construction Group has a 1 year low of $73.00 and a 1 year high of $171.58.

Everus Construction Group (NYSE:ECG) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.50. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. As a group, equities analysts anticipate that Everus Construction Group will post 5.23 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in shares of Everus Construction Group by 155.0% during the first quarter. Royal Bank of Canada now owns 48,839 shares of the company’s stock valued at $1,811,000 after acquiring an additional 29,689 shares during the period. Millennium Management LLC raised its holdings in Everus Construction Group by 42.7% during the first quarter. Millennium Management LLC now owns 244,421 shares of the company’s stock worth $9,066,000 after purchasing an additional 73,128 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Everus Construction Group by 74.4% in the first quarter. Goldman Sachs Group Inc. now owns 178,790 shares of the company’s stock worth $6,631,000 after purchasing an additional 76,252 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 during the period. Finally, Jane Street Group LLC lifted its position in Everus Construction Group by 184.4% in the first quarter. Jane Street Group LLC now owns 71,323 shares of the company’s stock worth $2,645,000 after purchasing an additional 46,247 shares during the period.

About Everus Construction Group

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.