Everus (NYSE:ECG) Shares Down 3.9% – Here’s Why

Everus (NYSE:ECG)’s stock price fell 3.9% on Monday . The company traded as low as $36.91 and last traded at $36.98. 295,471 shares changed hands during trading, a decline of 61% from the average session volume of 762,914 shares. The stock had previously closed at $38.50.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ECG shares. Oppenheimer boosted their price objective on shares of Everus from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Stifel Nicolaus dropped their price objective on shares of Everus from $67.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th.

Everus Trading Up 3.0 %

The business has a fifty day simple moving average of $41.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.50 and a current ratio of 1.58.

Everus (NYSE:ECG) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.06). Sell-side analysts predict that Everus will post 2.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Rocca Michael Della bought 1,050 shares of the stock in a transaction dated Tuesday, February 18th. The stock was bought at an average cost of $47.56 per share, with a total value of $49,938.00. Following the completion of the acquisition, the director now owns 2,027 shares of the company’s stock, valued at $96,404.12. This trade represents a 107.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Maximillian J. Marcy acquired 1,300 shares of Everus stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average price of $38.99 per share, with a total value of $50,687.00. Following the transaction, the chief financial officer now directly owns 5,508 shares in the company, valued at approximately $214,756.92. This trade represents a 30.89 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 3,750 shares of company stock valued at $153,853 over the last 90 days. 0.21% of the stock is owned by company insiders.

Institutional Trading of Everus

Several large investors have recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. bought a new stake in shares of Everus during the fourth quarter valued at about $26,000. Principal Securities Inc. acquired a new position in shares of Everus during the fourth quarter valued at approximately $27,000. HighMark Wealth Management LLC acquired a new stake in Everus in the fourth quarter worth approximately $28,000. Crews Bank & Trust bought a new position in Everus during the 4th quarter valued at $29,000. Finally, Quarry LP acquired a new position in shares of Everus during the 4th quarter valued at $36,000.

Everus Company Profile

Everus Construction Group is providing a full spectrum of construction services through its electrical and mechanical and transmission and distribution specialty contracting services principally in United States. Its specialty contracting services are provided to utility, transportation, commercial, industrial, institutional, renewable and other customers.