MYR Group Inc. (NASDAQ:MYRG) Shares Sold by Keeley Teton Advisors LLC

Keeley Teton Advisors LLC reduced its holdings in MYR Group Inc. (NASDAQ:MYRG) by 14.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,395 shares of the utilities provider’s stock after selling 1,405 shares during the period. Keeley Teton Advisors LLC owned about 0.05% of MYR Group worth $1,484,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Daiwa Securities Group Inc. purchased a new position in shares of MYR Group during the 4th quarter valued at approximately $29,000. Fidelis Capital Partners LLC acquired a new stake in shares of MYR Group in the first quarter valued at about $48,000. Quest Partners LLC acquired a new stake in shares of MYR Group in the fourth quarter valued at about $60,000. GAMMA Investing LLC purchased a new stake in shares of MYR Group during the fourth quarter worth about $62,000. Finally, Covestor Ltd raised its position in shares of MYR Group by 23.7% during the 1st quarter. Covestor Ltd now owns 689 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 132 shares during the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

MYR Group Price Performance

MYRG stock traded up $6.94 during mid-day trading on Friday, reaching $150.09. The company’s stock had a trading volume of 112,492 shares, compared to its average volume of 160,506. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $144.80 and its two-hundred day moving average is $153.52. MYR Group Inc. has a fifty-two week low of $110.87 and a fifty-two week high of $181.02. The stock has a market cap of $2.52 billion, a PE ratio of 29.09 and a beta of 0.99.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. The business had revenue of $815.56 million during the quarter, compared to analyst estimates of $854.13 million. MYR Group had a return on equity of 13.64% and a net margin of 2.38%. The business’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 earnings per share. Equities research analysts expect that MYR Group Inc. will post 5.4 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MYRG shares. Stifel Nicolaus cut their price objective on MYR Group from $185.00 to $184.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. Robert W. Baird dropped their price target on MYR Group from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.25.

About MYR Group

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.