Invesco Ltd. Invests $65.34 Million in Everus (NYSE:ECG)

Invesco Ltd. bought a new position in Everus (NYSE:ECG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 993,722 shares of the company's stock, valued at approximately $65,337,000. Invesco Ltd. owned approximately 1.95% of Everus at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bank of Montreal Can bought a new stake in Everus during the fourth quarter worth about $791,000. Cerity Partners LLC acquired a new stake in Everus during the 4th quarter valued at $577,000. Envestnet Asset Management Inc. bought a new position in Everus in the 4th quarter valued at $2,200,000. Wells Fargo & Company MN acquired a new position in Everus in the fourth quarter worth $3,038,000. Finally, Smith Moore & CO. bought a new stake in shares of Everus during the fourth quarter worth $334,000.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Oppenheimer upped their price target on shares of Everus from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. Stifel Nicolaus decreased their price target on shares of Everus from $67.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th.

Everus Price Performance

Everus stock traded up $0.60 during mid-day trading on Friday, hitting $38.77. The stock had a trading volume of 734,755 shares, compared to its average volume of 745,840. 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 has a 12 month low of $31.38 and a 12 month high of $77.93. The firm's 50-day moving average is $40.05.

Everus (NYSE:ECG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.06). As a group, research analysts anticipate that Everus will post 2.49 earnings per share for the current year.

Insider Transactions at Everus

In other news, CFO Maximillian J. Marcy acquired 1,300 shares of Everus stock in a transaction that occurred on Tuesday, February 25th. The shares were acquired at an average price of $38.99 per share, with a total value of $50,687.00. Following the purchase, the chief financial officer now directly owns 5,508 shares of the company's stock, valued at $214,756.92. The trade was a 30.89 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward A. Ryan bought 1,400 shares of the stock in a transaction on Tuesday, February 25th. The stock was purchased at an average cost 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 disclosure for this purchase can be found here. Insiders have purchased 3,750 shares of company stock worth $153,853 in the last three months. Insiders own 0.21% of the company's stock.

About Everus

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.