Universal Beteiligungs und Servicegesellschaft mbH Buys 11,290 Shares of MYR Group, Inc. $MYRG

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH raised its stake in MYR Group by 31.6%, acquiring 11,290 shares to hold 47,069 shares (about 0.30% of the company) valued at roughly $10.29 million per its latest 13F filing.
• MYR Group beat expectations in the latest quarter with $2.33 EPS vs. $1.73 expected and $973.54 million in revenue (up 17.3% year-over-year), showing strong profitability (ROE 19.66%).
• Institutional ownership is high at 88.90%, and analyst sentiment is generally positive—MarketBeat lists a "Moderate Buy" average rating with a $242 average target while several firms have recently raised targets or upgraded the stock.

Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of MYR Group, Inc. (NASDAQ:MYRG - Free Report) by 31.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,069 shares of the utilities provider's stock after acquiring an additional 11,290 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.30% of MYR Group worth $10,285,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in shares of MYR Group by 212.2% in the fourth quarter. Farther Finance Advisors LLC now owns 153 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 104 shares during the last quarter. Salomon & Ludwin LLC bought a new position in shares of MYR Group during the third quarter valued at about $34,000. Signaturefd LLC boosted its holdings in MYR Group by 65.7% during the fourth quarter. Signaturefd LLC now owns 164 shares of the utilities provider's stock worth $36,000 after purchasing an additional 65 shares during the last quarter. First Horizon Corp purchased a new position in MYR Group during the third quarter worth about $47,000. Finally, Johnson Financial Group Inc. bought a new stake in MYR Group in the 3rd quarter worth about $74,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

MYR Group Stock Performance

NASDAQ MYRG opened at $339.28 on Monday. MYR Group, Inc. has a 52-week low of $117.18 and a 52-week high of $345.00. The company has a 50-day simple moving average of $286.41 and a 200 day simple moving average of $249.51. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $5.27 billion, a PE ratio of 45.06 and a beta of 1.07.

MYR Group (NASDAQ:MYRG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The utilities provider reported $2.33 EPS for the quarter, topping the consensus estimate of $1.73 by $0.60. MYR Group had a net margin of 3.24% and a return on equity of 19.66%. The business had revenue of $973.54 million for the quarter, compared to analyst estimates of $897.73 million. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The company's revenue for the quarter was up 17.3% on a year-over-year basis. On average, research analysts predict that MYR Group, Inc. will post 9.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Cantor Fitzgerald increased their price objective on shares of MYR Group from $285.00 to $311.00 and gave the company an "overweight" rating in a research note on Monday, March 2nd. Stifel Nicolaus set a $351.00 target price on MYR Group in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of MYR Group in a report on Tuesday, April 21st. The Goldman Sachs Group increased their price target on MYR Group from $248.00 to $296.00 and gave the company a "neutral" rating in a research report on Tuesday, March 3rd. Finally, Zacks Research upgraded MYR Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, MYR Group currently has an average rating of "Moderate Buy" and an average target price of $242.00.

MYR Group Profile

MYR Group Inc NASDAQ: MYRG is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.

Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.

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