MYR Group, Inc. (NASDAQ:MYRG - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $173.78 and last traded at $173.33, with a volume of 134910 shares. The stock had previously closed at $169.34.
Wall Street Analyst Weigh In
MYRG has been the subject of several recent research reports. KeyCorp lifted their price target on MYR Group from $136.00 to $163.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Stifel Nicolaus dropped their price objective on shares of MYR Group from $157.00 to $131.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler lifted their target price 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. Robert W. Baird increased their price target on shares of MYR Group from $159.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, The Goldman Sachs Group lowered shares of MYR Group from a "buy" rating to a "neutral" rating and raised their price target for the company from $145.00 to $168.00 in a research report on Friday, June 6th. Two 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. According to data from MarketBeat.com, MYR Group has a consensus rating of "Moderate Buy" and an average target price of $157.00.
Check Out Our Latest Stock Analysis on MYR Group
MYR Group Stock Up 0.8%
The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $152.12 and a 200-day simple moving average of $140.77. The company has a market cap of $2.78 billion, a PE ratio of 82.18 and a beta of 1.17.
MYR Group (NASDAQ:MYRG - Get Free Report) last announced its earnings results on Wednesday, April 30th. The utilities provider reported $1.45 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $788.98 million. During the same period in the prior year, the company posted $1.12 EPS. The business's quarterly revenue was up 2.2% on a year-over-year basis. Equities research analysts anticipate that MYR Group, Inc. will post 1.16 EPS for the current year.
Hedge Funds Weigh In On MYR Group
A number of large investors have recently added to or reduced their stakes in MYRG. Bank of New York Mellon Corp grew its position in shares of MYR Group by 12.3% in the fourth quarter. Bank of New York Mellon Corp now owns 238,740 shares of the utilities provider's stock valued at $35,517,000 after purchasing an additional 26,205 shares during the period. Truist Financial Corp lifted its stake in MYR Group by 51.1% in the 4th quarter. Truist Financial Corp now owns 3,402 shares of the utilities provider's stock valued at $506,000 after buying an additional 1,150 shares in the last quarter. GAMMA Investing LLC lifted its stake in MYR Group by 12,329.7% in the 1st quarter. GAMMA Investing LLC now owns 68,985 shares of the utilities provider's stock valued at $7,802,000 after buying an additional 68,430 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in MYR Group by 697.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider's stock worth $49,000 after buying an additional 286 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in MYR Group by 2.4% during the 4th quarter. Victory Capital Management Inc. now owns 18,128 shares of the utilities provider's stock worth $2,697,000 after buying an additional 424 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.
About MYR Group
(
Get Free Report)
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.
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