Everus Construction Group, Inc. (NYSE:ECG – Get Free Report) fell 7.6% during mid-day trading on Wednesday. The stock traded as low as $123.93 and last traded at $122.7180. Approximately 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.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on ECG shares. Cantor Fitzgerald decreased their target price on shares of Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating on the stock in a research note on Thursday, August 13th. Guggenheim upped their price target on Everus Construction Group from $160.00 to $184.00 and gave the company 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. Weiss Ratings lowered Everus Construction Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, September 9th. Finally, DA Davidson initiated coverage on Everus Construction Group in a report on Friday, August 21st. They issued a “buy” rating and a $168.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $169.50.
Get Our Latest Analysis on Everus Construction Group
Everus Construction Group Stock Down 7.8%
Everus Construction Group (NYSE:ECG – Get Free Report) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the firm earned $1.03 earnings per share. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. As a group, equities analysts predict that Everus Construction Group, Inc. will post 5.25 earnings per share for the current year.
Insider Transactions at Everus Construction Group
In other Everus Construction Group news, VP Paul 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 transaction, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David Sparby purchased 1,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were bought at an average price of $144.95 per share, with a total value of $144,950.00. Following the completion of the transaction, the director 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.33% of the company’s stock.
Institutional Investors Weigh In On Everus Construction Group
Several large investors have recently added to or reduced their stakes in ECG. Root Financial Partners LLC raised its stake in shares of Everus Construction Group by 126.0% in the first quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock valued at $26,000 after acquiring an additional 121 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in Everus Construction Group in the 2nd quarter valued at about $28,000. Jones Financial Companies Lllp acquired a new stake in Everus Construction Group in the 2nd quarter valued at about $36,000. Retirement Wealth Solutions LLC purchased a new position in shares of Everus Construction Group in the 2nd quarter valued at about $39,000. Finally, Versant Capital Management Inc grew its position 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 buying an additional 110 shares in the last quarter.
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.
Read More
- Five stocks we like better than Everus Construction Group
- Morgan Stanley Is Bullish on Apple—But With a Catch
- Disney Is Opening the Door to Netflix—and Changing the Streaming Playbook
- DraftKings Stacks the Deck: The $800M Prediction Pivot
- Wall Street Is Betting These 3 Beaten-Down Stocks Have More Room to Run
Receive News & Ratings for Everus Construction Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everus Construction Group and related companies with MarketBeat.com's FREE daily email newsletter.
