XTX Topco Ltd Acquires Shares of 4,569 MYR Group, Inc. (NASDAQ:MYRG)

XTX Topco Ltd acquired a new stake in shares of MYR Group, Inc. (NASDAQ:MYRG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,569 shares of the utilities provider's stock, valued at approximately $517,000.

Several other large investors have also recently bought and sold shares of MYRG. Wellington Management Group LLP bought a new stake in shares of MYR Group in the fourth quarter worth about $60,217,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of MYR Group by 42.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 537,347 shares of the utilities provider's stock valued at $79,942,000 after purchasing an additional 159,302 shares in the last quarter. Millennium Management LLC grew its position in shares of MYR Group by 38.4% in the 4th quarter. Millennium Management LLC now owns 461,830 shares of the utilities provider's stock valued at $68,706,000 after purchasing an additional 128,159 shares during the period. Next Century Growth Investors LLC increased its stake in MYR Group by 513.8% during the 4th quarter. Next Century Growth Investors LLC now owns 151,610 shares of the utilities provider's stock worth $22,555,000 after purchasing an additional 126,910 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in MYR Group by 185.0% during the 4th quarter. Voya Investment Management LLC now owns 165,447 shares of the utilities provider's stock worth $24,614,000 after purchasing an additional 107,403 shares in the last quarter. Institutional investors own 88.90% of the company's stock.

Wall Street Analysts Forecast Growth

MYRG has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of MYR Group from $138.00 to $153.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Stifel Nicolaus set a $210.00 price objective on shares of MYR Group in a research report on Monday. Robert W. Baird increased their target price on MYR Group from $159.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wall Street Zen raised MYR Group from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Finally, The Goldman Sachs Group boosted their price target on MYR Group from $168.00 to $205.00 and gave the company a "neutral" rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, MYR Group has an average rating of "Moderate Buy" and an average price target of $189.80.

MYR Group Stock Performance

MYR Group stock traded down $0.59 during mid-day trading on Friday, hitting $185.05. 160,982 shares of the company's stock traded hands, compared to its average volume of 214,364. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a 50 day simple moving average of $179.91 and a two-hundred day simple moving average of $148.74. MYR Group, Inc. has a fifty-two week low of $86.60 and a fifty-two week high of $220.01. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 38.63 and a beta of 1.17.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.56 by $0.14. MYR Group had a net margin of 2.21% and a return on equity of 13.16%. The company had revenue of $900.33 million during the quarter, compared to analysts' expectations of $828.20 million. During the same quarter last year, the company posted ($0.91) EPS. MYR Group's quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts expect 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.