MYR Group Inc. (NASDAQ:MYRG) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in MYR Group Inc. (NASDAQ:MYRG) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 169,319 shares of the utilities provider’s stock after selling 1,359 shares during the quarter. Federated Hermes Inc. owned about 1.01% of MYR Group worth $24,489,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its holdings in shares of MYR Group by 24.0% in the second quarter. Tower Research Capital LLC TRC now owns 382 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 74 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of MYR Group by 6.1% in the second quarter. PNC Financial Services Group Inc. now owns 1,295 shares of the utilities provider’s stock valued at $179,000 after purchasing an additional 74 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of MYR Group by 3.4% in the fourth quarter. Mackenzie Financial Corp now owns 2,985 shares of the utilities provider’s stock valued at $432,000 after purchasing an additional 97 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of MYR Group by 0.9% in the second quarter. Captrust Financial Advisors now owns 12,261 shares of the utilities provider’s stock valued at $1,081,000 after purchasing an additional 104 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of MYR Group by 29.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 605 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 138 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MYRG shares. Stifel Nicolaus cut their price target on MYR Group from $185.00 to $184.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Sidoti lowered MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price objective for the company. in a research report on Monday, February 26th. Finally, KeyCorp assumed coverage on MYR Group in a research report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, MYR Group presently has a consensus rating of “Hold” and a consensus target price of $170.75.

MYR Group Trading Down 0.1 %

Shares of MYR Group stock opened at $158.71 on Monday. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 29.28 and a beta of 1.08. MYR Group Inc. has a fifty-two week low of $110.87 and a fifty-two week high of $181.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a 50 day moving average of $164.37 and a 200 day moving average of $144.65.

MYR Group (NASDAQ:MYRG) last released its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.41 by $0.02. MYR Group had a return on equity of 14.80% and a net margin of 2.50%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $904.76 million. During the same period last year, the business posted $1.46 earnings per share. The company’s quarterly revenue was up 16.2% on a year-over-year basis. As a group, research analysts predict that MYR Group Inc. will post 6.64 earnings per share for the current year.

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.