Deutsche Bank AG Acquires 18,831 Shares of MYR Group Inc. (NASDAQ:MYRG)

Deutsche Bank AG raised its position in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 187.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,884 shares of the utilities provider's stock after purchasing an additional 18,831 shares during the quarter. Deutsche Bank AG owned about 0.18% of MYR Group worth $4,297,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MCF Advisors LLC boosted its stake in MYR Group by 470.0% during the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 141 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of MYR Group during the 4th quarter worth $47,000. Smartleaf Asset Management LLC boosted its stake in shares of MYR Group by 697.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider's stock worth $49,000 after acquiring an additional 286 shares in the last quarter. ANTIPODES PARTNERS Ltd lifted its holdings in shares of MYR Group by 13.2% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock valued at $92,000 after purchasing an additional 72 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of MYR Group by 52.4% in the fourth quarter. Quadrant Capital Group LLC now owns 666 shares of the utilities provider's stock valued at $99,000 after purchasing an additional 229 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

MYR Group Stock Up 0.2%

MYR Group stock traded up $0.34 during mid-day trading on Friday, hitting $157.41. 221,845 shares of the company's stock were exchanged, compared to its average volume of 221,646. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.44 billion, a P/E ratio of 68.74 and a beta of 1.06. MYR Group Inc. has a 1-year low of $86.60 and a 1-year high of $168.88. The stock has a 50 day moving average of $130.63 and a two-hundred day moving average of $139.07.

MYR Group (NASDAQ:MYRG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.18 by $0.27. The firm had revenue of $833.62 million for the quarter, compared to the consensus estimate of $788.98 million. MYR Group had a net margin of 1.08% and a return on equity of 6.05%. The business's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.12 earnings per share. As a group, analysts anticipate that MYR Group Inc. will post 1.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on MYRG. Wall Street Zen upgraded MYR Group from a "buy" rating to a "strong-buy" rating in a report on Saturday. Robert W. Baird increased their price objective on MYR Group from $159.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. The Goldman Sachs Group cut their price objective on MYR Group from $164.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Piper Sandler increased their price objective on MYR Group from $124.00 to $138.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Finally, KeyCorp increased their price objective on MYR Group from $136.00 to $163.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $149.40.

MYR Group Company Profile

MYR Group Inc, through its subsidiaries, provides electrical construction services in the United States and Canada. It operates in two segments, Transmission and Distribution, and Commercial and Industrial. The Transmission and Distribution segment offers a range of services on electric transmission and distribution networks, and substation facilities, including design, engineering, procurement, construction, upgrade, maintenance, and repair services with primary focus on construction, maintenance, and repair to customers in the electric utility industry; and services, including construction and maintenance of high voltage transmission lines, substations, and lower voltage underground and overhead distribution systems, clean energy projects, and electric vehicle charging infrastructure services, as well as emergency restoration services in response to hurricane, wildfire, ice, or other related damages.