Oppenheimer Asset Management Inc. has significantly increased its investment in Everus Construction Group, Inc. (NYSE: ECG) by acquiring an additional 16,774 shares, raising its total holdings by 241.4% during the second quarter of the year. This acquisition brings Oppenheimer’s total ownership to 23,724 shares, valued at approximately $1.5 million as of the most recent reporting period filed with the Securities and Exchange Commission.
Several other institutional investors have also adjusted their positions in Everus Construction Group. Notably, Principal Financial Group Inc. expanded its stake by 40.7% in the first quarter, accumulating 347,556 shares valued at $12.89 million after purchasing an additional 100,551 shares. GAMMA Investing LLC raised its holdings by a remarkable 295.6% during the same period, now owning 720 shares worth $27,000. Additional investments include new stakes from Allspring Global Investments Holdings LLC, valued at approximately $273,000, and Arizona State Retirement System, which invested around $515,000.
Stock Performance and Analyst Ratings
As of the latest trading session, shares of Everus Construction Group were priced at $89.64. The company’s fifty-day moving average stands at $82.60, while the 200-day moving average is $67.94. Everus Construction Group boasts a market capitalization of $4.57 billion and a price-to-earnings ratio of 27.67. Financial metrics reveal a current ratio of 1.77 and a quick ratio of 1.69, alongside a debt-to-equity ratio of 0.53. The stock has seen a twelve-month low of $31.38 and a high of $95.90.
Recent analyses from various brokerage firms have provided insights into Everus Construction Group’s stock potential. Oppenheimer set a price target of $90.00 and maintains an “outperform” rating, according to a research note released on October 7, 2023. Conversely, Wall Street Zen downgraded the stock from “strong-buy” to “buy” in a report on September 14, 2023. Stifel Nicolaus increased its target price from $88.00 to $94.00, maintaining a “buy” rating in a note dated October 9, 2023. Zacks Research upgraded its rating from “hold” to “strong-buy” on August 14, 2023, while Weiss Ratings reiterated a “hold (c)” position on October 8, 2023.
The overall consensus among analysts indicates a “Moderate Buy” rating, with a consensus price target of approximately $90.67.
About Everus Construction Group
Everus Construction Group provides a comprehensive range of construction services, which include electrical, mechanical, and transmission and distribution specialty contracting, primarily in the United States. The company serves various sectors, including utility, transportation, commercial, industrial, institutional, and renewable energy customers.
For those interested in following the latest developments and insider trades related to Everus Construction Group, detailed reports and filings can be accessed through platforms like HoldingsChannel.com.
