Everus (NYSE:ECG) Hits New 52-Week Low – Here’s Why

Shares of Everus (NYSE:ECG) reached a new 52-week low on Tuesday . The stock traded as low as $37.18 and last traded at $37.94, with a volume of 568350 shares. The stock had previously closed at $39.29.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. DA Davidson began coverage on Everus in a research report on Monday, November 4th. They set a “neutral” rating and a $55.00 price objective on the stock. Oppenheimer boosted their target price on shares of Everus from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Stifel Nicolaus cut their price objective on Everus from $85.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Wolfe Research initiated coverage on Everus in a report on Tuesday, December 3rd. They issued a “peer perform” rating on the stock.

Everus Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.50 and a current ratio of 1.58. The firm’s 50 day simple moving average is $62.63.

Everus (NYSE:ECG) last issued its earnings results on Tuesday, February 11th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.06). As a group, research analysts expect that Everus will post 2.49 earnings per share for the current year.

Insider Transactions at Everus

In other news, CFO Maximillian J. Marcy bought 1,300 shares of the stock in a transaction dated Tuesday, February 25th. The stock was purchased at an average cost of $38.99 per share, for a total transaction of $50,687.00. Following the transaction, the chief financial officer now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rocca Michael Della purchased 1,050 shares of Everus stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average price of $47.56 per share, for a total transaction of $49,938.00. Following the transaction, the director now directly owns 2,027 shares of the company’s stock, valued at $96,404.12. The trade was a 107.47 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 3,750 shares of company stock valued at $153,853.

Hedge Funds 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 shares of Everus in the 4th quarter valued at about $365,965,000. Dimensional Fund Advisors LP bought a new stake in shares of Everus in the 4th quarter valued at approximately $120,578,000. Invesco Ltd. bought a new position in shares of Everus during the 4th quarter valued at approximately $65,337,000. Alliancebernstein L.P. purchased a new stake in Everus during the 4th quarter valued at $53,131,000. Finally, American Century Companies Inc. purchased a new stake in Everus during the 4th quarter valued at $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.