Keeley Teton Advisors LLC Buys 2,636 Shares of MYR Group, Inc. $MYRG

Key Points

• Keeley Teton Advisors LLC has increased its holdings in MYR Group, Inc. by 36.4%, owning a total of 9,882 shares valued at approximately $1.12 million.
• MYR Group's recent quarterly earnings showed an EPS of $1.70, surpassing estimates, and revenues of $900.33 million, a year-over-year increase of 8.6%.
• Institutional investors currently hold about 88.90% of MYR Group's stock, indicating strong institutional interest in the company.

Keeley Teton Advisors LLC boosted its holdings in shares of MYR Group, Inc. (NASDAQ:MYRG - Free Report) by 36.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,882 shares of the utilities provider's stock after acquiring an additional 2,636 shares during the quarter. Keeley Teton Advisors LLC owned approximately 0.06% of MYR Group worth $1,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its position in shares of MYR Group by 0.9% in the fourth quarter. Captrust Financial Advisors now owns 8,519 shares of the utilities provider's stock valued at $1,267,000 after purchasing an additional 75 shares during the period. ANTIPODES PARTNERS Ltd raised its position in shares of MYR Group by 16.3% in the first quarter. ANTIPODES PARTNERS Ltd now owns 719 shares of the utilities provider's stock valued at $81,000 after purchasing an additional 101 shares during the period. US Bancorp DE raised its position in shares of MYR Group by 2.4% in the first quarter. US Bancorp DE now owns 6,261 shares of the utilities provider's stock valued at $708,000 after purchasing an additional 144 shares during the period. Caitong International Asset Management Co. Ltd raised its position in shares of MYR Group by 92.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 343 shares of the utilities provider's stock valued at $39,000 after purchasing an additional 165 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of MYR Group by 85.4% in the first quarter. Versant Capital Management Inc now owns 456 shares of the utilities provider's stock valued at $52,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

MYR Group Trading Down 2.2%

MYR Group stock traded down $4.26 during trading hours on Monday, reaching $187.27. 247,404 shares of the company's stock traded hands, compared to its average volume of 198,780. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.33 and a current ratio of 1.33. MYR Group, Inc. has a fifty-two week low of $86.60 and a fifty-two week high of $220.01. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 39.10 and a beta of 1.19. The firm's 50 day moving average is $186.64 and its 200-day moving average is $153.32.

MYR Group (NASDAQ:MYRG - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.56 by $0.14. MYR Group had a net margin of 2.21% and a return on equity of 13.16%. The company had revenue of $900.33 million for the quarter, compared to the consensus estimate of $828.20 million. During the same period in the prior year, the company posted ($0.91) EPS. The company's revenue was up 8.6% compared to the same quarter last year. On average, analysts predict that MYR Group, Inc. will post 1.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of MYR Group from $138.00 to $153.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. KeyCorp lifted their price target on shares of MYR Group from $205.00 to $211.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen raised shares of MYR Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Stifel Nicolaus set a $210.00 price target on shares of MYR Group in a report on Monday, August 4th. Finally, The Goldman Sachs Group upped their target price on shares of MYR Group from $168.00 to $205.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $191.83.

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.