Everus Construction Group (NYSE:ECG) Sets New 1-Year Low – Here’s Why

Everus Construction Group, Inc. (NYSE:ECG) reached a new 52-week low during trading on Thursday. The stock traded as low as $76.68 and last traded at $76.0950, with a volume of 4,344 shares. The stock had previously closed at $79.71.

Analysts Set New Price Targets

A number of research firms recently issued reports on ECG. Weiss Ratings raised Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Guggenheim boosted their target price on Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Freedom Capital raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Cantor Fitzgerald cut their price target on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a research note on Thursday, August 13th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective on shares of Everus Construction Group in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $169.50.

Everus Construction Group Stock Down 7.2%

The firm has a fifty day simple moving average of $113.36 and a 200-day simple moving average of $125.39. The company has a market capitalization of $3.78 billion, a PE ratio of 13.14 and a beta of 2.36. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59.

Everus Construction Group (NYSE:ECG) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.48. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Everus Construction Group had a net margin of 6.20% and a return on equity of 41.54%. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.11 earnings per share. Equities research analysts anticipate that Everus Construction Group, Inc. will post 5.25 EPS for the current fiscal year.

Insider Transactions at Everus Construction Group

In other Everus Construction Group news, Director David Sparby bought 1,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were purchased at an average price of $144.95 per share, with a total value of $144,950.00. Following the completion of the acquisition, the director directly owned 19,658 shares of the company’s stock, valued at approximately $2,849,427.10. The trade was a 5.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Paul Sanderson sold 3,300 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $136.69, for a total value of $451,077.00. Following the transaction, the vice president directly owned 18,950 shares of the company’s stock, valued at $2,590,275.50. This trade represents a 14.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC bought a new position in Everus Construction Group in the 3rd quarter worth about $1,467,000. Fulcrum Asset Management LLP acquired a new stake in Everus Construction Group in the 3rd quarter valued at approximately $40,000. Allspring Global Investments Holdings LLC boosted its position in Everus Construction Group by 14.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 214,511 shares of the company’s stock worth $25,662,000 after acquiring an additional 27,249 shares during the period. StoneX Group Inc. acquired a new stake in shares of Everus Construction Group in the 3rd quarter worth approximately $336,000. Finally, Alps Advisors Inc. boosted its holdings in shares of Everus Construction Group by 23.2% in the third quarter. Alps Advisors Inc. now owns 20,048 shares of the company’s stock valued at $2,356,000 after acquiring an additional 3,770 shares in the last quarter.

Everus Construction Group Company Profile

Everus Construction Group, Inc (NYSE: ECG) is a U.S.-based infrastructure construction company that provides services to utilities, energy companies, industrial customers, commercial businesses and government entities. The company focuses on building, upgrading and maintaining essential infrastructure across the electric, natural gas, communications and industrial sectors.

Its services include the construction and maintenance of electric transmission and distribution systems, substations, renewable energy facilities, natural gas pipelines and underground utilities.