Everus (NYSE:ECG) Shares Down 6.3% – What’s Next?

Everus (NYSE:ECG) was down 6.3% during trading on Tuesday . The stock traded as low as $38.90 and last traded at $38.76. Approximately 140,194 shares were traded during trading, a decline of 81% from the average daily volume of 745,812 shares. The stock had previously closed at $41.35.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ECG shares. 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 note on Tuesday, January 7th. Wolfe Research assumed coverage on shares of Everus in a research report on Tuesday, December 3rd. They set a “peer perform” rating on the stock. Finally, Stifel Nicolaus reduced their price target on shares of Everus from $85.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, February 13th.

Everus Stock Performance

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 company has a 50 day simple moving average of $53.89.

Everus (NYSE:ECG) last posted its earnings results on Tuesday, February 11th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.06). Research analysts forecast that Everus will post 2.49 earnings per share for the current fiscal year.

Insider Activity at Everus

In related news, CFO Maximillian J. Marcy acquired 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was purchased at an average price 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 in the company, valued at $214,756.92. This trade represents a 30.89 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward A. Ryan purchased 1,400 shares of the stock in a transaction dated Tuesday, February 25th. The shares were purchased at an average price of $38.02 per share, with a total value of $53,228.00. Following the completion of the acquisition, the director now owns 14,928 shares of the company’s stock, valued at approximately $567,562.56. This represents a 10.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 3,750 shares of company stock valued at $153,853.

Institutional Trading of Everus

Hedge funds have recently bought and sold shares of the company. Forza Wealth Management LLC purchased a new stake in Everus in the fourth quarter valued at approximately $336,000. Mendota Financial Group LLC purchased a new stake in shares of Everus during the fourth quarter valued at approximately $36,000. SeaCrest Wealth Management LLC purchased a new stake in Everus during the 4th quarter worth $292,000. Hennessy Advisors Inc. acquired a new position in shares of Everus in the fourth quarter worth about $31,611,000. Finally, Brady Martz Wealth Solutions LLC acquired a new position in shares of Everus in the 4th quarter valued at approximately $472,000.

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.