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

Shares of Everus Construction Group, Inc. (NYSE:ECG) dropped 7.6% during trading 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. Approximately 50,761 shares traded hands during trading, a decline of 92% from the average daily volume of 607,908 shares. The stock had previously closed at $132.74.

ECG has been the subject of a number of other research reports. DA Davidson initiated coverage on Everus Construction Group in a research note on Friday, August 21st. They issued a “buy” rating and a $168.00 price target for the company. Cantor Fitzgerald cut their price objective on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating for the company in a research report on Thursday, August 13th. 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, Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Everus Construction Group in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $169.50.

Insider Activity at Everus Construction Group

In related news, VP Paul R. Sanderson sold 3,300 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $136.69, for a total transaction of $451,077.00. Following the sale, the vice president owned 18,950 shares in the company, valued at approximately $2,590,275.50. This represents a 14.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David M. Sparby purchased 1,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was 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 $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. 0.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Everus Construction Group

Several hedge funds and other institutional investors have recently made changes to their positions in ECG. GAMMA Investing LLC boosted its stake in shares of 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 during the period. Versant Capital Management Inc lifted its stake in Everus Construction Group by 48.9% in the third quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $39,000 after purchasing an additional 110 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Everus Construction Group by 60.1% in the second quarter. Sequoia Financial Advisors LLC now owns 4,183 shares of the company’s stock worth $694,000 after purchasing an additional 1,571 shares during the last quarter. Tidal Investments LLC lifted its stake in Everus Construction Group by 3,682.9% in the second quarter. Tidal Investments LLC now owns 67,827 shares of the company’s stock worth $11,256,000 after purchasing an additional 66,034 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Everus Construction Group during the second quarter valued at approximately $247,000.

Everus Construction Group Stock Down 2.1%

The firm has a market cap of $6.26 billion, a PE ratio of 24.66 and a beta of 2.27. The company has a 50-day simple moving average of $123.06 and a 200-day simple moving average of $134.74. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.59 and a quick ratio of 1.53.

Everus Construction Group (NYSE:ECG) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 earnings per share 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 firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. Analysts expect that Everus Construction Group, Inc. will post 5.25 earnings per share for the current fiscal year.

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.