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

Teacher Retirement System of Texas bought a new position in shares of MYR Group, Inc. (NASDAQ:MYRG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,361 shares of the utilities provider's stock, valued at approximately $267,000.

A number of other hedge funds also recently modified their holdings of MYRG. Versant Capital Management Inc grew its holdings 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 buying an additional 210 shares in the last quarter. Quadrant Capital Group LLC grew its position in shares of MYR Group by 52.4% in the 4th quarter. Quadrant Capital Group LLC now owns 666 shares of the utilities provider's stock worth $99,000 after buying an additional 229 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of MYR Group by 234.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,337 shares of the utilities provider's stock valued at $199,000 after purchasing an additional 937 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in MYR Group during the fourth quarter valued at $208,000. Finally, Avantax Advisory Services Inc. purchased a new position in MYR Group during the fourth quarter valued at $215,000. Institutional investors own 88.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MYRG. KeyCorp upped their price objective on MYR Group from $172.00 to $205.00 and gave the company an "overweight" rating in a research report on Wednesday. The Goldman Sachs Group lowered MYR Group from a "buy" rating to a "neutral" rating and increased their price target for the company from $145.00 to $168.00 in a research note on Friday, June 6th. Piper Sandler upped their price objective on MYR Group from $138.00 to $153.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Wall Street Zen upgraded MYR Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Finally, Robert W. Baird increased their target price on MYR Group from $159.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, MYR Group has a consensus rating of "Moderate Buy" and a consensus price target of $180.00.

MYR Group Price Performance

Shares of MYR Group stock traded down $0.09 on Friday, hitting $191.94. The company's stock had a trading volume of 96,106 shares, compared to its average volume of 225,263. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.31 and a current ratio of 1.31. MYR Group, Inc. has a 1 year low of $86.60 and a 1 year high of $194.95. The firm has a fifty day moving average price of $171.30 and a 200-day moving average price of $144.32. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 88.05 and a beta of 1.19.

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, beating analysts' consensus estimates of $1.18 by $0.27. MYR Group had a return on equity of 5.84% and a net margin of 1.02%. The business had revenue of $833.62 million during the quarter, compared to analyst estimates of $788.98 million. During the same period in the prior year, the business earned $1.12 earnings per share. The business's revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate 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.