Everus (NYSE:ECG) Trading 2.5% Higher – Here’s Why

Shares of Everus (NYSE:ECG) traded up 2.5% during mid-day trading on Friday . The stock traded as high as $35.63 and last traded at $35.85. 527,428 shares were traded during trading, a decline of 28% from the average session volume of 735,076 shares. The stock had previously closed at $34.97.

Analysts Set New Price Targets

ECG has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their price objective on Everus from $85.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Oppenheimer upped their price objective on Everus from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Finally, Wolfe Research began coverage on shares of Everus in a research report on Tuesday, December 3rd. They issued a “peer perform” rating for the company.

Everus Stock Performance

The business has a 50-day moving average of $51.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.50.

Everus (NYSE:ECG) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.06). Analysts forecast that Everus will post 2.49 EPS for the current fiscal year.

Insider Activity

In related news, Director Rocca Michael Della bought 1,050 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price 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. The trade was a 107.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward A. Ryan acquired 1,400 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were bought at an average price of $38.02 per share, with a total value of $53,228.00. Following the completion of the transaction, the director now owns 14,928 shares in the company, valued at $567,562.56. This represents a 10.35 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 3,750 shares of company stock worth $153,853.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ECG. Wealth Enhancement Advisory Services LLC bought a new stake in Everus during the 4th quarter worth $333,000. Wood Tarver Financial Group LLC bought a new stake in shares of Everus during the fourth quarter worth about $75,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Everus in the fourth quarter valued at approximately $3,066,000. Jefferies Financial Group Inc. bought a new position in Everus in the 4th quarter valued at approximately $801,000. Finally, Polar Asset Management Partners Inc. bought a new position in Everus in the 4th quarter valued at approximately $6,286,000.

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.