Everus (NYSE:ECG) Trading Up 2.5% – Time to Buy?

Everus (NYSE:ECG)’s stock price rose 2.5% during trading on Friday . The stock traded as high as $35.63 and last traded at $35.85. Approximately 527,428 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 735,076 shares. The stock had previously closed at $34.97.

Wall Street Analysts Forecast Growth

ECG has been the subject of several research analyst reports. Wolfe Research assumed coverage on shares of Everus in a report on Tuesday, December 3rd. They set a “peer perform” rating for the company. Stifel Nicolaus dropped their price objective on shares of Everus from $85.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Oppenheimer boosted their target price on shares of Everus from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th.

Everus Stock Performance

The company has a current ratio of 1.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.47. The firm has a 50-day simple moving average of $51.97.

Everus (NYSE:ECG) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.06). Research analysts anticipate that Everus will post 2.49 EPS for the current year.

Insider Buying and Selling

In related news, CFO Maximillian J. Marcy acquired 1,300 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were acquired at an average cost of $38.99 per share, for a total transaction of $50,687.00. Following the purchase, the chief financial officer now owns 5,508 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, Director Edward A. Ryan acquired 1,400 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were purchased at an average cost of $38.02 per share, for a total transaction of $53,228.00. Following the completion of the acquisition, the director now directly owns 14,928 shares in the company, valued at approximately $567,562.56. The trade was a 10.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 3,750 shares of company stock worth $153,853 in the last quarter.

Institutional Inflows and Outflows

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

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.