Everus (NYSE:ECG) Trading Down 6.3% – Here’s Why

Everus (NYSE:ECG) shares fell 6.3% on Tuesday . The company traded as low as $38.90 and last traded at $38.76. 140,194 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 745,812 shares. The stock had previously closed at $41.35.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ECG. Oppenheimer raised their price target on shares of Everus from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Wolfe Research began coverage on Everus in a report on Tuesday, December 3rd. They set a “peer perform” rating for the company. Finally, Stifel Nicolaus lowered their target price on Everus from $85.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th.

Everus Price Performance

The firm has a 50 day moving average price of $52.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.50 and a current ratio of 1.58.

Everus (NYSE:ECG) last released its quarterly earnings data 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, equities research analysts expect that Everus will post 2.49 EPS for the current fiscal year.

Insider Activity at Everus

In related news, Director Edward A. Ryan bought 1,400 shares of Everus stock in a transaction on Tuesday, February 25th. The stock was acquired at an average price of $38.02 per share, with a total value of $53,228.00. Following the acquisition, the director now directly owns 14,928 shares of the company’s stock, valued at $567,562.56. This represents a 10.35 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rocca Michael Della purchased 1,050 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $47.56 per share, for a total transaction of $49,938.00. Following the completion of the transaction, the director now owns 2,027 shares of the company’s stock, valued at approximately $96,404.12. This trade represents a 107.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 3,750 shares of company stock worth $153,853.

Institutional Investors Weigh In On Everus

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. bought a new position in Everus in the 4th quarter worth about $365,965,000. Dimensional Fund Advisors LP purchased a new position in shares of Everus during the fourth quarter worth about $120,578,000. Invesco Ltd. bought a new position in shares of Everus in the fourth quarter worth approximately $65,337,000. Alliancebernstein L.P. bought a new position in shares of Everus in the fourth quarter worth approximately $53,131,000. Finally, American Century Companies Inc. purchased a new stake in Everus in the fourth quarter valued at approximately $49,650,000.

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.