Everus Construction Group (NYSE:ECG) Trading Down 6.5% – Should You Sell?

Shares of Everus Construction Group, Inc. (NYSE:ECG) fell 6.5% on Wednesday . The stock traded as low as $153.25 and last traded at $155.1690. Approximately 22,634 shares traded hands during trading, a decline of 97% from the average daily volume of 653,731 shares. The stock had previously closed at $165.95.

Wall Street Analyst Weigh In

ECG has been the topic of a number of recent analyst reports. Glj Research began coverage on shares of Everus Construction Group in a research note on Monday, April 20th. They issued a “hold” rating and a $141.00 target price on the stock. Weiss Ratings raised Everus Construction Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 7th. Freedom Capital cut Everus Construction Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Cantor Fitzgerald increased their target price on Everus Construction Group from $115.00 to $174.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Finally, Oppenheimer assumed coverage on Everus Construction Group in a research report on Thursday, May 28th. They issued an “outperform” rating and a $185.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.67.

Everus Construction Group Trading Down 6.8%

The firm has a market cap of $7.89 billion, a P/E ratio of 35.46 and a beta of 2.32. The business’s 50-day moving average is $151.17 and its two-hundred day moving average is $120.76. The company has a current ratio of 1.77, a quick ratio of 1.71 and a debt-to-equity ratio of 0.38.

Everus Construction Group (NYSE:ECG) last issued its earnings results on Tuesday, May 5th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.33. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $933.81 million. Everus Construction Group had a net margin of 5.65% and a return on equity of 37.17%. Everus Construction Group’s revenue was up 25.4% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share. As a group, analysts expect that Everus Construction Group, Inc. will post 4.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP bought a new stake in Everus Construction Group in the fourth quarter valued at $184,838,000. Capital International Investors acquired a new stake in shares of Everus Construction Group in the 3rd quarter worth about $165,993,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Everus Construction Group by 147,209.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,260,973 shares of the company’s stock worth $107,889,000 after acquiring an additional 1,260,117 shares during the period. Invesco Ltd. lifted its position in Everus Construction Group by 86.4% in the 3rd quarter. Invesco Ltd. now owns 1,795,730 shares of the company’s stock valued at $153,984,000 after purchasing an additional 832,389 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Everus Construction Group by 109.9% in 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.

About Everus Construction Group

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. Everus Construction Group is based in BISMARCK, N.D.