Meeder Asset Management Inc. Takes Position in Everus Construction Group, Inc. $ECG

Meeder Asset Management Inc. bought a new stake in Everus Construction Group, Inc. (NYSE:ECG) during the second quarter, Holdings Channel reports. The institutional investor bought 4,130 shares of the company’s stock, valued at approximately $685,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Everus Construction Group during the 2nd quarter worth $1,094,243,000. Deutsche Bank AG purchased a new position in shares of Everus Construction Group during the second quarter worth about $27,186,000. Perigon Wealth Management LLC acquired a new position in Everus Construction Group in the 2nd quarter valued at about $205,000. Trust Co. of Vermont purchased a new stake in Everus Construction Group during the 2nd quarter valued at approximately $77,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Everus Construction Group during the 2nd quarter worth approximately $58,000.

Insider Activity

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

Analysts Set New Price Targets

A number of research firms recently weighed in on ECG. 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. Cantor Fitzgerald reduced 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 research note on Thursday, August 13th. 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 report on Thursday, August 6th. Stifel Nicolaus set a $172.00 price target on shares of Everus Construction Group in a research note on Friday, May 8th. Finally, Zacks Research cut shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.50.

Everus Construction Group Price Performance

Shares of NYSE ECG opened at $129.07 on Wednesday. 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, Inc. has a one year low of $72.43 and a one year high of $171.58. The firm has a market capitalization of $6.59 billion, a P/E ratio of 25.97 and a beta of 2.37. The company’s fifty day moving average is $140.85 and its two-hundred day moving average is $131.86.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.50. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted $1.03 EPS. The business’s revenue was up 33.7% compared to the same quarter last year. Analysts forecast that Everus Construction Group, Inc. will post 5.23 EPS for the current fiscal year.

Everus Construction Group Company 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.