Private Advisor Group LLC Acquires New Shares in Everus (NYSE:ECG)

Private Advisor Group LLC has recently taken a significant step in its investment strategy by acquiring a new position in Everus (NYSE:ECG - Free Report) during the fourth quarter, as reported in the latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,135 shares of Everus, with a total value of around $1,192,000.

In addition to Private Advisor Group LLC's investment, several other institutional investors and hedge funds have also adjusted their stakes in Everus. Yousif Capital Management LLC made a notable investment, acquiring a stake valued at $1,326,000. Similarly, Cascade Investment Advisors Inc. added a new stake during the fourth quarter, amounting to about $1,272,000. Register Financial Advisors LLC made a more considerable investment, purchasing shares valued at approximately $3,167,000. Principal Financial Group Inc. significantly expanded their position in Everus with a stake worth around $16,241,000. Lastly, SG Americas Securities LLC acquired a new position in the company, valued at about $669,000.

Wall Street Analysts Provide Insights

Everus has attracted attention from multiple Wall Street analysts, leading to several research reports concerning its stock. On February 13th, Stifel Nicolaus revised their price target for Everus shares downward from $85.00 to $67.00, rating the stock as "buy." Earlier, on November 4th, DA Davidson initiated coverage for Everus, giving it a "neutral" rating along with a price target set at $55.00. Wolfe Research also commenced coverage on December 3rd, assigning a "peer perform" rating for the stock. In a more optimistic note, Oppenheimer raised its target price for Everus shares from $70.00 to $80.00, designating it as "outperform" in a research update dated January 7th.

Recent Trading Performance

On Friday, shares of Everus traded down by 6.9 %, opening at $41.88. The stock has experienced a one-year low of $37.84 and a high of $77.93. Financial metrics reveal that Everus has a debt-to-equity ratio of 0.47, with a quick ratio of 1.50 and a current ratio of 1.58. The company's fifty-day moving average currently stands at $63.72.

On February 11th, Everus announced its quarterly earnings, reporting $0.67 earnings per share (EPS), which fell short of the consensus estimate of $0.73 by $0.06. Analysts predict that Everus will achieve an EPS of 2.49 for the current fiscal year.

Insider Trading Activity

In related news, Everus has seen some insider trading activity as well. On February 18th, Director Rocca Michael Della bought 1,050 shares at an average price of $47.56 per share, totaling $49,938. Following this transaction, the director now owns 2,027 shares valued at approximately $96,404.12, marking a 107.47 % increase in their stake. The purchase was disclosed in a filing with the SEC. Additionally, on February 25th, Director Edward A. Ryan purchased 1,400 shares at an average price of $38.02, leading to a total investment of about $53,228. This acquisition increased his ownership of the stock by 10.35 %, bringing his total shares to 14,928, valued at around $567,562.56. Over the past ninety days, insiders have collectively acquired 3,750 shares valued at $153,853.

Overview of Everus

Everus Construction Group specializes in providing a full range of construction services, focusing on electrical and mechanical contracting as well as transmission and distribution services. These offerings primarily target utility, transportation, commercial, industrial, institutional, renewable, and other markets across the United States.

Conclusion

With significant institutional investment and interest from analysts, Everus continues to be a point of focus for investors. As market conditions evolve, observers will be keen to see how these developments affect the company's performance in the months ahead.

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