Everus Construction Group (NYSE:ECG) Stock Price Down 7.6% on Analyst Downgrade

Everus Construction Group, Inc. (NYSE:ECG) shares were down 7.6% on Wednesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $123.93 and last traded at $122.7180. 50,761 shares changed hands during trading, a decline of 92% from the average session volume of 607,908 shares. The stock had previously closed at $132.74.

A number of other research firms have also recently commented on ECG. Oppenheimer reiterated an “outperform” rating and set a $200.00 price target on shares of Everus Construction Group in a report on Thursday, August 6th. Cantor Fitzgerald cut their price target on shares of Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating on the stock in a report on Thursday, August 13th. Guggenheim raised their target price on Everus Construction Group from $160.00 to $184.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. DA Davidson started coverage on Everus Construction Group in a research note on Friday, August 21st. They set a “buy” rating and a $168.00 price objective for the company. Finally, Weiss Ratings downgraded Everus Construction Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Everus Construction Group has a consensus rating of “Moderate Buy” and a consensus target price of $169.50.

Insider Activity at Everus Construction Group

In other news, Director David M. Sparby purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was purchased at an average cost of $144.95 per share, for a total transaction of $144,950.00. Following the completion of the transaction, the director owned 19,658 shares of the company’s stock, valued at $2,849,427.10. This trade represents a 5.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Paul R. Sanderson sold 3,300 shares of the stock in a transaction dated Friday, August 7th. The shares were 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 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 disclosure for this sale is available in the SEC filing. 0.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Everus Construction Group

Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its stake in shares of Everus Construction Group by 6.7% during the first quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock worth $142,000 after buying an additional 75 shares during the period. GAMMA Investing LLC increased its position in Everus Construction Group by 5.2% during the 3rd quarter. GAMMA Investing LLC now owns 2,119 shares of the company’s stock worth $249,000 after purchasing an additional 105 shares in the last quarter. Versant Capital Management Inc lifted its position in 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 buying an additional 110 shares during the period. Root Financial Partners LLC raised its position in shares of Everus Construction Group by 126.0% in the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock worth $26,000 after buying an additional 121 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in shares of Everus Construction Group during the 2nd quarter valued at $28,000.

Everus Construction Group Stock Performance

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.53 and a current ratio of 1.59. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 24.66 and a beta of 2.27. The stock’s fifty day moving average is $123.06 and its two-hundred day moving average is $134.74.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Everus Construction Group’s revenue for the quarter was up 33.7% compared to the same quarter last year. Analysts forecast that Everus Construction Group, Inc. will post 5.25 earnings per share for the current year.

Everus Construction Group Company Profile

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.