MYR Group Inc. (NASDAQ:MYRG) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC increased its stake in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 28.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,202 shares of the utilities provider's stock after acquiring an additional 36,111 shares during the quarter. Nuveen Asset Management LLC owned about 1.01% of MYR Group worth $24,131,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MCF Advisors LLC raised 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 worth $25,000 after acquiring an additional 141 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in MYR Group during the 4th quarter worth $47,000. Smartleaf Asset Management LLC grew its position in 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 purchasing an additional 286 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its position in MYR Group by 13.2% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock worth $92,000 after purchasing an additional 72 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in MYR Group by 52.4% during the 4th quarter. Quadrant Capital Group LLC now owns 666 shares of the utilities provider's stock worth $99,000 after purchasing an additional 229 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

MYR Group Price Performance

MYRG traded up $4.28 during midday trading on Tuesday, reaching $161.69. 110,418 shares of the company's stock were exchanged, compared to its average volume of 221,225. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $2.51 billion, a PE ratio of 70.60 and a beta of 1.06. The business's 50-day moving average price is $131.25 and its 200 day moving average price is $139.13. MYR Group Inc. has a 1-year low of $86.60 and a 1-year high of $168.88.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MYRG. Piper Sandler raised their price objective on shares of MYR Group from $138.00 to $153.00 and gave the stock a "neutral" rating in a research report on Tuesday. Wall Street Zen raised shares of MYR Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Robert W. Baird lifted their target price on shares of MYR Group from $159.00 to $170.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. The Goldman Sachs Group lowered their target price on shares of MYR Group from $164.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, KeyCorp lifted their target price on shares of MYR Group from $136.00 to $163.00 and gave the company 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. According to data from MarketBeat, MYR Group currently has an average rating of "Buy" and a consensus target price of $152.40.

MYR Group 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.