Franklin Resources Inc. Takes Position in Everus (NYSE:ECG)

Franklin Resources Inc. bought a new position in Everus (NYSE:ECG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 290,080 shares of the company’s stock, valued at approximately $19,073,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ECG. Vanguard Group Inc. bought a new stake in Everus in the 4th quarter worth approximately $365,965,000. Alliancebernstein L.P. bought a new stake in Everus in the fourth quarter worth $53,131,000. American Century Companies Inc. purchased a new stake in Everus during the fourth quarter valued at $49,650,000. Norges Bank bought a new position in Everus during the fourth quarter valued at $34,672,000. Finally, Hennessy Advisors Inc. bought a new position in Everus during the fourth quarter valued at $31,611,000.

Everus Trading Down 4.7 %

ECG stock opened at $33.67 on Monday. Everus has a twelve month low of $31.38 and a twelve month high of $77.93. The company has a current ratio of 1.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average price is $47.50.

Everus (NYSE:ECG) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.06). Analysts anticipate that Everus will post 2.49 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ECG shares. Stifel Nicolaus decreased their target price on shares of Everus from $85.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Oppenheimer boosted their price objective on Everus from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th.

Insider Activity

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

Everus 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.