MYR Group Inc. (NASDAQ:MYRG) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,180 shares of the utilities provider's stock after buying an additional 3,720 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.60% of MYR Group worth $14,309,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Barclays PLC increased its holdings in shares of MYR Group by 192.2% in the third quarter. Barclays PLC now owns 34,987 shares of the utilities provider's stock valued at $3,578,000 after purchasing an additional 23,013 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of MYR Group by 66.7% in the 4th quarter. Fifth Third Bancorp now owns 4,031 shares of the utilities provider's stock worth $600,000 after acquiring an additional 1,613 shares during the last quarter. KBC Group NV raised its holdings in shares of MYR Group by 56.8% during the 4th quarter. KBC Group NV now owns 737 shares of the utilities provider's stock worth $110,000 after acquiring an additional 267 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of MYR Group by 77.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 54,405 shares of the utilities provider's stock worth $8,045,000 after acquiring an additional 23,760 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of MYR Group by 0.5% during the 4th quarter. Rhumbline Advisers now owns 45,246 shares of the utilities provider's stock valued at $6,731,000 after acquiring an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of MYR Group from $157.00 to $131.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Wall Street Zen upgraded shares of MYR Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Robert W. Baird upped their price objective on MYR Group from $159.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. KeyCorp increased their price objective on MYR Group from $136.00 to $163.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, Piper Sandler lifted their target price on MYR Group from $138.00 to $153.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $152.40.

MYR Group Trading Up 2.3%

Shares of MYR Group stock traded up $3.69 on Tuesday, reaching $162.06. The company had a trading volume of 158,804 shares, compared to its average volume of 223,423. The firm's 50 day moving average price is $135.45 and its two-hundred day moving average price is $139.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 1.35. MYR Group Inc. has a 52-week low of $86.60 and a 52-week high of $168.88. The firm has a market cap of $2.52 billion, a PE ratio of 70.77 and a beta of 1.06.

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

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.