Keeley Teton Advisors LLC Has $1.12 Million Stock Holdings in 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 raised its position in MYR Group, Inc. (NASDAQ:MYRG - Free Report) by 36.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,882 shares of the utilities provider's stock after purchasing an additional 2,636 shares during the quarter. Keeley Teton Advisors LLC owned 0.06% of MYR Group worth $1,118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its stake 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 buying an additional 165 shares during the period. Versant Capital Management Inc grew its holdings in MYR Group by 85.4% during the 1st quarter. Versant Capital Management Inc now owns 456 shares of the utilities provider's stock worth $52,000 after acquiring an additional 210 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its holdings in MYR Group by 16.3% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 719 shares of the utilities provider's stock worth $81,000 after acquiring an additional 101 shares during the last quarter. CWM LLC increased its position in MYR Group by 176.9% in the 1st quarter. CWM LLC now owns 1,293 shares of the utilities provider's stock valued at $146,000 after acquiring an additional 826 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of MYR Group by 43.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,622 shares of the utilities provider's stock valued at $186,000 after acquiring an additional 490 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors.

MYR Group Trading Down 2.2%

NASDAQ MYRG traded down $4.26 during trading hours on Friday, hitting $187.27. 247,404 shares of the company's stock were exchanged, compared to its average volume of 200,245. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 39.10 and a beta of 1.17. The stock has a 50-day simple moving average of $186.64 and a 200 day simple moving average of $153.08. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.14. MYR Group, Inc. has a 1-year low of $86.60 and a 1-year high of $220.01.

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

Analysts Set New Price Targets

Several brokerages recently weighed in on MYRG. KeyCorp boosted their price objective 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. Jefferies Financial Group assumed coverage on MYR Group in a report on Friday, August 15th. They set a "hold" rating and a $202.00 target price on the stock. Wall Street Zen raised MYR Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. The Goldman Sachs Group lifted their price objective on MYR Group from $168.00 to $205.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Finally, Stifel Nicolaus set a $210.00 target price on MYR Group in a report on Monday, August 4th. 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 stock presently 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.