Nuveen Asset Management LLC lifted its holdings in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 28.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 162,202 shares of the utilities provider's stock after acquiring an additional 36,111 shares during the period. Nuveen Asset Management LLC owned approximately 1.01% of MYR Group worth $24,131,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. MCF Advisors LLC lifted its stake in MYR Group by 470.0% during the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider's stock worth $25,000 after purchasing an additional 141 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in MYR Group in the 4th quarter valued at $47,000. Smartleaf Asset Management LLC grew its position in MYR Group by 697.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider's stock valued at $49,000 after acquiring an additional 286 shares during the period. ANTIPODES PARTNERS Ltd raised its stake in MYR Group by 13.2% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock worth $92,000 after acquiring an additional 72 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of MYR Group by 52.4% during the fourth quarter. Quadrant Capital Group LLC now owns 666 shares of the utilities provider's stock valued at $99,000 after acquiring an additional 229 shares during the period. 88.90% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus dropped their target price 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 raised MYR Group from a "buy" rating to a "strong-buy" rating in a report on Saturday. KeyCorp raised their price target on MYR Group from $136.00 to $163.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Robert W. Baird boosted their price objective on MYR Group from $159.00 to $170.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group lowered their price target on shares of MYR Group from $164.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, MYR Group has a consensus rating of "Buy" and a consensus price target of $152.40.
Get Our Latest Research Report on MYR Group
MYR Group Trading Down 0.7%
MYR Group stock traded down $1.11 during midday trading on Wednesday, hitting $159.68. 20,479 shares of the stock were exchanged, compared to its average volume of 220,721. The stock has a market capitalization of $2.48 billion, a PE ratio of 69.53 and a beta of 1.06. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $131.96 and a two-hundred day simple moving average of $139.28. MYR Group Inc. has a 52 week low of $86.60 and a 52 week high of $168.88.
MYR Group (NASDAQ:MYRG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.45 earnings per share (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 analyst estimates of $788.98 million. MYR Group had a net margin of 1.08% and a return on equity of 6.05%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 earnings per share. Equities research analysts anticipate that MYR Group Inc. will post 1.16 EPS for the current fiscal year.
About MYR Group
(
Free Report)
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.
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