Everus Construction Group (NYSE:ECG) Shares Gap Down – Here’s What Happened

Everus Construction Group, Inc. (NYSE:ECG)’s stock price gapped down before the market opened on Wednesday. The stock had previously closed at $112.73, but opened at $99.72. Everus Construction Group shares last traded at $93.1430, with a volume of 215,861 shares traded.

Wall Street Analyst Weigh In

ECG has been the subject of several research analyst reports. Guggenheim upped their price target 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. Freedom Capital upgraded Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Oppenheimer reissued an “outperform” rating and set a $200.00 target price on shares of Everus Construction Group in a research report on Thursday, August 6th. Zacks Research lowered shares of Everus Construction Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Finally, Cantor Fitzgerald reduced 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 research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.50.

Everus Construction Group Stock Performance

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 stock has a market capitalization of $4.12 billion, a P/E ratio of 16.17 and a beta of 2.36. The company has a fifty day moving average of $114.12 and a two-hundred day moving average of $125.44.

Everus Construction Group (NYSE:ECG) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.48. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.19 billion. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The firm’s revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 earnings per share. On average, equities analysts anticipate that Everus Construction Group, Inc. will post 5.25 EPS for the current year.

Insider Activity at Everus Construction Group

In related news, VP Paul Sanderson sold 3,300 shares of the company’s 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 represents a 14.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Sparby bought 1,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were acquired at an average price of $144.95 per share, with a total value of $144,950.00. Following the completion of the purchase, 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 ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of Everus Construction Group in the 2nd quarter worth $1,094,243,000. First Trust Advisors LP boosted its stake in Everus Construction Group by 109.9% during the 1st quarter. First Trust Advisors LP now owns 1,280,916 shares of the company’s stock valued at $151,225,000 after purchasing an additional 670,646 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Everus Construction Group by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,105,056 shares of the company’s stock valued at $130,431,000 after purchasing an additional 10,760 shares during the last quarter. De Lisle Partners LLP bought a new stake in Everus Construction Group during the 2nd quarter worth approximately $59,936,000. Finally, Bank of New York Mellon Corp bought a new stake in Everus Construction Group during the 2nd quarter worth approximately $46,211,000.

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.