Universal Beteiligungs und Servicegesellschaft mbH Takes Position in MYR Group, Inc. (NASDAQ:MYRG)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in MYR Group, Inc. (NASDAQ:MYRG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 16,998 shares of the utilities provider's stock, valued at approximately $1,922,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.11% of MYR Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MYRG. Versant Capital Management Inc raised its stake in shares of MYR Group by 85.4% in the first quarter. Versant Capital Management Inc now owns 456 shares of the utilities provider's stock valued at $52,000 after acquiring an additional 210 shares in the last quarter. Quadrant Capital Group LLC raised its position in MYR Group by 52.4% in the 4th quarter. Quadrant Capital Group LLC now owns 666 shares of the utilities provider's stock valued at $99,000 after purchasing an additional 229 shares in the last quarter. CWM LLC raised its position in MYR Group by 176.9% in the 1st quarter. CWM LLC now owns 1,293 shares of the utilities provider's stock valued at $146,000 after purchasing an additional 826 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of MYR Group by 43.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,622 shares of the utilities provider's stock valued at $186,000 after buying an additional 490 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of 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 buying an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MYRG. The Goldman Sachs Group cut shares of MYR Group from a "buy" rating to a "neutral" rating and raised their target price for the company from $145.00 to $168.00 in a report on Friday, June 6th. Stifel Nicolaus lifted their price objective on shares of MYR Group from $174.00 to $204.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. KeyCorp boosted their target price on shares of MYR Group from $205.00 to $211.00 and gave the stock an "overweight" rating in a research note on Friday. Robert W. Baird raised their price target on MYR Group from $159.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Piper Sandler lifted their price target on MYR Group from $138.00 to $153.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, MYR Group presently has an average rating of "Moderate Buy" and a consensus price target of $181.20.

MYR Group Stock Performance

MYRG traded down $6.06 on Friday, reaching $187.44. The company had a trading volume of 276,715 shares, compared to its average volume of 153,950. The company has a quick ratio of 1.31, a current ratio of 1.33 and a debt-to-equity ratio of 0.14. MYR Group, Inc. has a 1 year low of $86.60 and a 1 year high of $220.01. The stock has a market capitalization of $2.91 billion, a PE ratio of 39.13 and a beta of 1.17. The stock has a 50-day moving average price of $177.67 and a 200-day moving average price of $147.66.

MYR Group (NASDAQ:MYRG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.14. The business had revenue of $900.33 million during the quarter, compared to the consensus estimate of $828.20 million. MYR Group had a return on equity of 13.16% and a net margin of 2.21%. The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.91) EPS. As a group, research analysts forecast that MYR Group, Inc. will post 1.16 EPS for the current fiscal year.

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.