Kestra Investment Management LLC Makes New $1.47 Million Investment in Everus Construction Group, Inc. $ECG

Kestra Investment Management LLC purchased a new stake in Everus Construction Group, Inc. (NYSE:ECG) during the third quarter, HoldingsChannel.com reports. The fund purchased 12,482 shares of the company’s stock, valued at approximately $1,467,000.

A number of other institutional investors also recently bought and sold shares of the business. Fulcrum Asset Management LLP purchased a new position in shares of Everus Construction Group in the 3rd quarter valued at about $40,000. Allspring Global Investments Holdings LLC raised its position in shares of Everus Construction Group by 14.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 214,511 shares of the company’s stock worth $25,662,000 after acquiring an additional 27,249 shares in the last quarter. StoneX Group Inc. acquired a new stake in shares of Everus Construction Group during the 3rd quarter worth about $336,000. Alps Advisors Inc. lifted its stake in Everus Construction Group by 23.2% during the third quarter. Alps Advisors Inc. now owns 20,048 shares of the company’s stock worth $2,356,000 after purchasing an additional 3,770 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its stake in Everus Construction Group by 10.1% during the third quarter. Ashton Thomas Private Wealth LLC now owns 8,735 shares of the company’s stock worth $1,027,000 after purchasing an additional 798 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings raised Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Freedom Capital upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Cantor Fitzgerald cut their price objective on shares of Everus Construction Group from $152.00 to $123.00 and set a “neutral” rating on the stock in a report on Tuesday. Oppenheimer reduced their price objective on shares of Everus Construction Group from $200.00 to $170.00 and set an “outperform” rating for the company in a research report on Thursday, November 5th. Finally, Stifel Nicolaus reduced their price objective on shares of Everus Construction Group from $172.00 to $139.00 and set a “buy” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $154.17.

Insider Activity

In other news, Director David Sparby purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were purchased at an average price of $144.95 per share, for a total transaction of $144,950.00. Following the purchase, the director directly owned 19,658 shares of the company’s stock, valued at $2,849,427.10. This represents a 5.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently owned by company insiders.

Everus Construction Group Stock Performance

NYSE ECG opened at $85.63 on Wednesday. The company has a fifty day moving average of $110.27 and a two-hundred day moving average of $125.13. The company has a market capitalization of $4.37 billion, a PE ratio of 15.16 and a beta of 2.36. Everus Construction Group, Inc. has a 1 year low of $70.44 and a 1 year high of $171.58. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.53 and a quick ratio of 1.48.

Everus Construction Group (NYSE:ECG) last posted its earnings results on Tuesday, November 3rd. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.48. Everus Construction Group had a return on equity of 39.18% and a net margin of 6.20%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The business’s revenue was up 40.3% compared to the same quarter last year. As a group, analysts expect that Everus Construction Group, Inc. will post 5.87 earnings per share for the current year.

Everus Construction Group Profile

Everus Construction Group provides construction services for commercial, industrial, institutional and utility customers. Its work includes electrical and mechanical construction, fire protection, and the building and maintenance of infrastructure for energy and utility systems. The company also performs utility and civil construction, including work on electric transmission and distribution lines, underground utilities, pipelines, water and sewer systems, and transportation-related infrastructure.