Everus (NYSE:ECG) Shares Down 6.3% – Should You Sell?

Shares of Everus (NYSE:ECG) dropped 6.3% during mid-day trading on Tuesday . The company traded as low as $38.90 and last traded at $38.76. Approximately 140,194 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 745,812 shares. The stock had previously closed at $41.35.

Analyst Ratings Changes

Several analysts have weighed in on ECG shares. Oppenheimer lifted their target price on Everus from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Wolfe Research initiated coverage on shares of Everus in a research report on Tuesday, December 3rd. They issued a “peer perform” rating for the company. Finally, Stifel Nicolaus dropped their price target on shares of Everus from $85.00 to $67.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th.

Everus Stock Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.50. The firm’s 50-day simple moving average is $53.89.

Everus (NYSE:ECG) last announced its earnings results on Tuesday, February 11th. The company reported $0.67 earnings per share 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.

Insider Activity at Everus

In related news, Director Edward A. Ryan acquired 1,400 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was bought at an average price of $38.02 per share, for a total transaction of $53,228.00. Following the transaction, the director now owns 14,928 shares of the company’s stock, valued at approximately $567,562.56. The trade was a 10.35 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Maximillian J. Marcy acquired 1,300 shares of Everus stock in a transaction dated Tuesday, February 25th. The shares were bought at an average cost of $38.99 per share, with a total value of $50,687.00. Following the completion of the purchase, the chief financial officer now owns 5,508 shares in the company, valued at approximately $214,756.92. This 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 ninety days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Forza Wealth Management LLC acquired a new stake in shares of Everus during the fourth quarter valued at approximately $336,000. Mendota Financial Group LLC purchased a new position in Everus during the 4th quarter worth approximately $36,000. SeaCrest Wealth Management LLC purchased a new position in Everus during the 4th quarter worth approximately $292,000. Hennessy Advisors Inc. acquired a new stake in Everus during the 4th quarter valued at $31,611,000. Finally, Brady Martz Wealth Solutions LLC purchased a new stake in shares of Everus in the fourth quarter valued at $472,000.

About Everus

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.