2,361 Shares in MYR Group, Inc. (NASDAQ:MYRG) Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new stake in shares of MYR Group, Inc. (NASDAQ:MYRG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,361 shares of the utilities provider's stock, valued at approximately $267,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MYRG. Versant Capital Management Inc increased its stake in MYR Group by 85.4% during the first quarter. Versant Capital Management Inc now owns 456 shares of the utilities provider's stock worth $52,000 after purchasing an additional 210 shares during the period. Quadrant Capital Group LLC increased its stake in MYR Group by 52.4% during the fourth 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 period. Tower Research Capital LLC TRC increased its stake in MYR Group by 234.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,337 shares of the utilities provider's stock worth $199,000 after purchasing an additional 937 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of MYR Group during the fourth quarter worth approximately $208,000. Finally, Avantax Advisory Services Inc. purchased a new stake in shares of MYR Group during the fourth quarter worth approximately $215,000. Institutional investors and hedge funds own 88.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen raised MYR Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Piper Sandler upped their price target on MYR Group from $138.00 to $153.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. KeyCorp upped their price target on MYR Group from $172.00 to $205.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. The Goldman Sachs Group downgraded MYR Group from a "buy" rating to a "neutral" rating and upped their price target for the company from $145.00 to $168.00 in a report on Friday, June 6th. Finally, Stifel Nicolaus increased their price objective on MYR Group from $174.00 to $204.00 and gave the company a "buy" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, MYR Group has a consensus rating of "Moderate Buy" and an average price target of $180.00.

MYR Group Price Performance

Shares of MYRG stock traded up $5.71 during mid-day trading on Wednesday, reaching $190.61. The stock had a trading volume of 124,522 shares, compared to its average volume of 225,157. MYR Group, Inc. has a 12-month low of $86.60 and a 12-month high of $194.95. The company has a market cap of $2.96 billion, a P/E ratio of 87.44 and a beta of 1.19. The business has a 50-day simple moving average of $172.33 and a 200 day simple moving average of $144.84. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.15.

MYR Group (NASDAQ:MYRG - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $788.98 million. MYR Group had a return on equity of 5.84% and a net margin of 1.02%. The company's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 EPS. On average, sell-side analysts anticipate that MYR Group, Inc. will post 1.16 earnings per share for the current year.

About MYR Group

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.