Everus Construction Group (NYSE:ECG) Stock Bumped Down to “Hold” by Zacks Research

Zacks Research downgraded shares of Everus Construction Group (NYSE:ECG) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks reports.

A number of other research analysts also recently issued reports on the company. DA Davidson assumed coverage on Everus Construction Group in a research note on Friday, August 21st. They set a “buy” rating and a $168.00 price target on the stock. Freedom Capital upgraded shares of Everus Construction Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Everus Construction Group in a report on Thursday, August 6th. Guggenheim upped their price target on shares of Everus Construction Group from $160.00 to $184.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings cut shares of Everus Construction Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $169.50.

Everus Construction Group Price Performance

Shares of ECG opened at $125.38 on Tuesday. Everus Construction Group has a 1-year low of $78.14 and a 1-year high of $171.58. The stock has a market cap of $6.40 billion, a PE ratio of 25.23 and a beta of 2.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.59 and a quick ratio of 1.53. The firm has a fifty day moving average price of $123.08 and a 200 day moving average price of $134.66.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.50. Everus Construction Group had a return on equity of 38.22% and a net margin of 5.96%.The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company posted $1.03 earnings per share. The business’s quarterly revenue was up 33.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Everus Construction Group will post 5.25 EPS for the current year.

Insider Buying and Selling

In other news, VP Paul R. Sanderson sold 3,300 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $136.69, for a total transaction of $451,077.00. Following the completion of the sale, the vice president owned 18,950 shares in the company, valued at $2,590,275.50. This represents a 14.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David M. Sparby purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were bought at an average cost of $144.95 per share, with a total value of $144,950.00. Following the completion of the acquisition, the director owned 19,658 shares of the company’s stock, valued at approximately $2,849,427.10. This trade represents a 5.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.33% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Everus Construction Group

Several institutional investors have recently bought and sold shares of ECG. Versant Capital Management Inc increased its stake in shares of Everus Construction Group by 48.9% during the third quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $39,000 after acquiring an additional 110 shares during the period. Sequoia Financial Advisors LLC lifted its position in Everus Construction Group by 60.1% in the second quarter. Sequoia Financial Advisors LLC now owns 4,183 shares of the company’s stock valued at $694,000 after purchasing an additional 1,571 shares during the period. Tidal Investments LLC boosted its holdings in Everus Construction Group by 3,682.9% in the 2nd quarter. Tidal Investments LLC now owns 67,827 shares of the company’s stock valued at $11,256,000 after purchasing an additional 66,034 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Everus Construction Group in the 2nd quarter valued at approximately $247,000. Finally, NewEdge Advisors LLC increased its position in Everus Construction Group by 3.2% during the 2nd quarter. NewEdge Advisors LLC now owns 22,504 shares of the company’s stock worth $3,735,000 after purchasing an additional 702 shares during the period.

About Everus Construction Group

Everus Construction Group, Inc is a U.S.-based infrastructure construction company that provides services for electric, natural gas, communications and other utility networks. Its work includes the construction, maintenance and repair of power transmission and distribution systems, underground and overhead utility infrastructure, natural gas pipelines and related facilities.

The company also serves telecommunications, renewable energy, industrial and commercial customers. Its capabilities include engineering and construction, storm restoration, distribution system work, substation and transmission construction, fiber and communications infrastructure, and other specialized projects that support energy and utility networks.

Everus Construction Group was formerly known as MDU Construction Services Group and became an independent publicly traded company following its separation from MDU Resources Group in 2024.