Navellier & Associates Inc. Increases Position in Everus Construction Group, Inc. $ECG

Navellier & Associates Inc. lifted its holdings in shares of Everus Construction Group, Inc. (NYSE:ECG) by 156.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,820 shares of the company’s stock after buying an additional 4,770 shares during the period. Navellier & Associates Inc.’s holdings in Everus Construction Group were worth $1,298,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Parallel Advisors LLC increased its position in Everus Construction Group by 6.7% in the 1st quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock valued at $142,000 after acquiring an additional 75 shares during the period. Root Financial Partners LLC lifted its position in Everus Construction Group by 126.0% during the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock worth $26,000 after acquiring an additional 121 shares during the period. Maryland State Retirement & Pension System lifted its position in Everus Construction Group by 1.4% during the 4th quarter. Maryland State Retirement & Pension System now owns 10,379 shares of the company’s stock worth $888,000 after acquiring an additional 146 shares during the period. Global Retirement Partners LLC purchased a new position in shares of Everus Construction Group in the 2nd quarter valued at approximately $28,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Everus Construction Group by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 386 shares of the company’s stock valued at $25,000 after purchasing an additional 198 shares during the period.

Everus Construction Group Price Performance

Shares of NYSE ECG opened at $115.93 on Friday. The firm has a market capitalization of $5.92 billion, a P/E ratio of 23.33 and a beta of 2.37. Everus Construction Group, Inc. has a one year low of $73.00 and a one year high of $171.58. The company’s fifty day moving average is $136.26 and its two-hundred day moving average is $133.34. 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 (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 5.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Zacks Research raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Everus Construction Group in a research note on Tuesday, August 4th. Cantor Fitzgerald cut their price objective on shares of Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a research report on Thursday, August 13th. Guggenheim raised their target price on shares of Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, DA Davidson initiated coverage on shares of Everus Construction Group in a report on Friday, August 21st. They issued a “buy” rating and a $168.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $169.50.

Insider Buying and Selling

In other news, Director David M. Sparby purchased 1,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was acquired at an average price of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the transaction, the director directly owned 19,658 shares in the company, valued at $2,849,427.10. This represents a 5.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, VP Paul R. Sanderson sold 3,300 shares of Everus Construction Group stock in a transaction 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 transaction, the vice president directly owned 18,950 shares of the company’s stock, valued at $2,590,275.50. This trade represents a 14.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.33% of the company’s stock.

Everus Construction Group 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.