A number of other research firms have also weighed in on MYRG. Stifel Nicolaus reduced their price objective on MYR Group from $126.00 to $101.00 in a research report on Wednesday, April 27th. Zacks Investment Research upgraded MYR Group from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Saturday, April 30th.
Shares of MYRG stock opened at $82.28 on Friday. The company’s fifty day moving average price is $91.56 and its 200-day moving average price is $99.20. The stock has a market cap of $1.40 billion, a PE ratio of 16.46 and a beta of 1.16. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.09. MYR Group has a 12 month low of $74.77 and a 12 month high of $121.22.
Large investors have recently bought and sold shares of the company. Barclays PLC raised its holdings in MYR Group by 35.8% in the 3rd quarter. Barclays PLC now owns 17,737 shares of the utilities provider’s stock worth $1,764,000 after acquiring an additional 4,673 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of MYR Group during the third quarter valued at $121,000. UBS Asset Management Americas Inc. increased its holdings in MYR Group by 8.2% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 25,056 shares of the utilities provider’s stock worth $2,493,000 after buying an additional 1,901 shares in the last quarter. Meritage Portfolio Management raised its position in MYR Group by 5.1% in the 4th quarter. Meritage Portfolio Management now owns 3,452 shares of the utilities provider’s stock worth $382,000 after buying an additional 169 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in MYR Group by 231.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 37,109 shares of the utilities provider’s stock valued at $3,692,000 after acquiring an additional 25,897 shares during the period. Hedge funds and other institutional investors own 86.17% of the company’s stock.
About MYR Group (Get Rating)
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, renewable power facilities, and limited gas construction services, as well as emergency restoration services in response to hurricane, ice, or other storm related damages.
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