Lazard Asset Management LLC Buys Shares of 10,607 Everus (NYSE:ECG)

Lazard Asset Management LLC purchased a new position in shares of Everus (NYSE:ECG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,607 shares of the company’s stock, valued at approximately $696,000.

Other institutional investors have also recently made changes to their positions in the company. Ionic Capital Management LLC acquired a new stake in Everus during the fourth quarter worth $1,184,000. Janus Henderson Group PLC acquired a new stake in shares of Everus during the fourth quarter valued at about $2,581,000. Jefferies Financial Group Inc. purchased a new stake in shares of Everus in the 4th quarter valued at approximately $801,000. Gotham Asset Management LLC acquired a new position in shares of Everus in the 4th quarter worth approximately $424,000. Finally, Ensign Peak Advisors Inc purchased a new position in shares of Everus during the 4th quarter worth approximately $1,122,000.

Insider Activity at Everus

In other Everus news, CFO Maximillian J. Marcy acquired 1,300 shares of the stock in a transaction dated Tuesday, February 25th. The stock was acquired at an average cost of $38.99 per share, with a total value of $50,687.00. Following the transaction, the chief financial officer now owns 5,508 shares in the company, valued at $214,756.92. The trade was a 30.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward A. Ryan bought 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were acquired at an average price of $38.02 per share, with a total value of $53,228.00. Following the purchase, the director now owns 14,928 shares of the company’s stock, valued at $567,562.56. The trade was a 10.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.21% of the stock is owned by corporate insiders.

Everus Stock Performance

Everus stock opened at $59.06 on Wednesday. The stock’s fifty day simple moving average is $41.89 and its 200-day simple moving average is $54.38. Everus has a twelve month low of $31.38 and a twelve month high of $77.93. The company has a quick ratio of 1.50, a current ratio of 1.58 and a debt-to-equity ratio of 0.47.

Everus (NYSE:ECG) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.29. The company had revenue of $826.63 million during the quarter, compared to analyst estimates of $676.35 million. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. On average, analysts expect that Everus will post 2.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ECG. Stifel Nicolaus upped their price target on Everus from $55.00 to $71.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. DA Davidson increased their price target on shares of Everus from $58.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th.

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.