Hennessy Advisors Inc. Purchases New Position in Everus (NYSE:ECG)

Hennessy Advisors Inc. acquired a new stake in Everus (NYSE:ECG) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 480,775 shares of the company’s stock, valued at approximately $31,611,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Forza Wealth Management LLC bought a new stake in shares of Everus during the 4th quarter valued at $336,000. SeaCrest Wealth Management LLC purchased a new position in Everus during the 4th quarter valued at about $292,000. Finally, Mendota Financial Group LLC bought a new stake in shares of Everus during the fourth quarter valued at about $36,000.

Everus Stock Down 5.1 %

Shares of ECG opened at $66.41 on Friday. Everus has a 1 year low of $40.05 and a 1 year high of $73.83. The company has a quick ratio of 1.50, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $66.02.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ECG shares. DA Davidson initiated coverage on shares of Everus in a report on Monday, November 4th. They set a “neutral” rating and a $55.00 target price 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 report on Tuesday, January 7th. Wolfe Research began coverage on Everus in a research report on Tuesday, December 3rd. They issued a “peer perform” rating on the stock. Finally, Stifel Nicolaus boosted their target price on Everus from $71.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th.

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.