Everus Construction Group (NYSE:ECG) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Everus Construction Group (NYSE:ECG) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks reports.

A number of other equities research analysts have also recently commented on ECG. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Everus Construction Group in a report on Thursday, August 6th. Freedom Capital raised Everus Construction Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Cantor Fitzgerald dropped their price target on Everus Construction Group from $174.00 to $152.00 and set a “neutral” rating on the stock in a research report on Thursday, August 13th. DA Davidson initiated coverage on Everus Construction Group in a research note on Friday, August 21st. They set a “buy” rating and a $168.00 price objective for the company. Finally, Weiss Ratings cut Everus Construction Group from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $169.50.

Everus Construction Group Stock Performance

Shares of Everus Construction Group stock opened at $122.58 on Tuesday. The firm’s fifty day simple moving average is $123.06 and its 200-day simple moving average is $134.74. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 24.66 and a beta of 2.27. Everus Construction Group has a 12 month low of $78.14 and a 12 month high of $171.58. 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 released its quarterly earnings results on Tuesday, August 4th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.14 by $0.50. Everus Construction Group had a net margin of 5.96% and a return on equity of 38.22%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. Everus Construction Group’s revenue for the quarter was up 33.7% on a year-over-year basis. As a group, equities analysts forecast that Everus Construction Group will post 5.25 earnings per share for the current year.

Insider Buying and Selling

In other Everus Construction Group news, VP Paul R. Sanderson sold 3,300 shares of the firm’s 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 completion of the transaction, the vice president owned 18,950 shares of the company’s stock, valued at approximately $2,590,275.50. This trade represents a 14.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David M. Sparby purchased 1,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $144.95 per share, with a total value of $144,950.00. Following the completion of the acquisition, the director owned 19,658 shares of the company’s stock, valued at approximately $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 currently owned by corporate insiders.

Institutional Trading of Everus Construction Group

A number of large investors have recently made changes to their positions in ECG. Global Retirement Partners LLC purchased a new stake in Everus Construction Group during the second quarter worth approximately $28,000. Root Financial Partners LLC boosted its position in Everus Construction Group by 126.0% during the 1st quarter. Root Financial Partners LLC now owns 217 shares of the company’s stock worth $26,000 after purchasing an additional 121 shares during the period. Jones Financial Companies Lllp purchased a new stake in Everus Construction Group during the 2nd quarter worth $36,000. Retirement Wealth Solutions LLC acquired a new stake in Everus Construction Group in the 2nd quarter valued at $39,000. Finally, Versant Capital Management Inc increased its holdings in Everus Construction Group by 48.9% in the 3rd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $39,000 after purchasing an additional 110 shares in the last quarter.

Everus Construction Group Company Profile

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.