MYR Group, Inc. (NASDAQ:MYRG) Holdings Decreased by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its stake in MYR Group, Inc. (NASDAQ:MYRG) by 2.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,000 shares of the utilities provider’s stock after selling 150 shares during the period. Yousif Capital Management LLC’s holdings in MYR Group were worth $679,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Arcadia Investment Management Corp MI acquired a new stake in shares of MYR Group in the fourth quarter valued at $47,000. Smartleaf Asset Management LLC boosted its position in shares of MYR Group by 697.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 286 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of MYR Group by 85.4% in the 1st quarter. Versant Capital Management Inc now owns 456 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 210 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its holdings in shares of MYR Group by 13.2% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider’s stock worth $92,000 after purchasing an additional 72 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of MYR Group by 52.4% in the 4th quarter. Quadrant Capital Group LLC now owns 666 shares of the utilities provider’s stock worth $99,000 after purchasing an additional 229 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wall Street Zen upgraded shares of MYR Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 24th. Piper Sandler raised their price objective on MYR Group from $138.00 to $153.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 27th. KeyCorp lifted their target price on MYR Group from $136.00 to $163.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Robert W. Baird upped their target price on MYR Group from $159.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Finally, The Goldman Sachs Group lowered MYR Group from a “buy” rating to a “neutral” rating and increased their price target for the company from $145.00 to $168.00 in a research report on Friday, June 6th. Two 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

MYR Group Price Performance

Shares of NASDAQ:MYRG opened at $169.34 on Friday. The company has a market cap of $2.63 billion, a P/E ratio of 77.68 and a beta of 1.17. The company’s fifty day moving average is $149.62 and its two-hundred day moving average is $140.81. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.15. MYR Group, Inc. has a 12-month low of $86.60 and a 12-month high of $172.01.

MYR Group (NASDAQ:MYRG) last released its earnings results on Wednesday, April 30th. The utilities provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.27. The company had revenue of $833.62 million for the quarter, compared to analysts’ expectations of $788.98 million. MYR Group had a return on equity of 5.84% and a net margin of 1.02%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 EPS. Equities analysts expect that MYR Group, Inc. will post 1.16 earnings per share 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.