Deutsche Bank AG Sells 4,626 Shares of MYR Group, Inc. $MYRG

Deutsche Bank AG decreased its position in shares of MYR Group, Inc. (NASDAQ:MYRG) by 16.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 24,258 shares of the utilities provider’s stock after selling 4,626 shares during the quarter. Deutsche Bank AG owned approximately 0.16% of MYR Group worth $2,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its position in shares of MYR Group by 85.4% during the 1st 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 during the last quarter. ANTIPODES PARTNERS Ltd boosted its position in shares of MYR Group by 16.3% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 719 shares of the utilities provider’s stock valued at $81,000 after acquiring an additional 101 shares during the last quarter. CWM LLC boosted its position in shares of MYR Group by 176.9% during the 1st quarter. CWM LLC now owns 1,293 shares of the utilities provider’s stock valued at $146,000 after acquiring an additional 826 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of MYR Group by 43.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,622 shares of the utilities provider’s stock valued at $186,000 after acquiring an additional 490 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of MYR Group by 234.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,337 shares of the utilities provider’s stock valued at $199,000 after acquiring an additional 937 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

MYR Group Price Performance

MYRG opened at $181.69 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.33 and a current ratio of 1.33. MYR Group, Inc. has a 52-week low of $86.60 and a 52-week high of $220.01. The stock has a market capitalization of $2.82 billion, a PE ratio of 37.93 and a beta of 1.17. The stock’s 50 day moving average price is $183.47 and its 200-day moving average price is $150.81.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.14. The company had revenue of $900.33 million for the quarter, compared to analysts’ expectations of $828.20 million. MYR Group had a return on equity of 13.16% and a net margin of 2.21%.The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.91) earnings per share. On average, equities research analysts predict that MYR Group, Inc. will post 1.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MYRG shares. Stifel Nicolaus set a $210.00 price objective on MYR Group in a report on Monday, August 4th. The Goldman Sachs Group raised their price objective on MYR Group from $168.00 to $205.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Robert W. Baird raised their price objective on MYR Group from $159.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. Piper Sandler raised their price objective on MYR Group from $138.00 to $153.00 and gave the company a “neutral” rating in a report on Tuesday, May 27th. Finally, KeyCorp raised their price objective on MYR Group from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.83.

MYR Group Company 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.