First Bank & Trust Acquires New Holdings in MYR Group Inc. (NASDAQ:MYRG)

First Bank & Trust acquired a new stake in shares of MYR Group Inc. (NASDAQ:MYRG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,550 shares of the utilities provider’s stock, valued at approximately $274,000.

Other hedge funds also recently bought and sold shares of the company. Deutsche Bank AG lifted its position in MYR Group by 13.6% during the third quarter. Deutsche Bank AG now owns 9,034 shares of the utilities provider’s stock valued at $1,217,000 after purchasing an additional 1,080 shares during the last quarter. Hsbc Holdings PLC lifted its position in MYR Group by 43.5% during the third quarter. Hsbc Holdings PLC now owns 3,158 shares of the utilities provider’s stock valued at $426,000 after purchasing an additional 957 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in MYR Group during the third quarter valued at approximately $364,000. Qube Research & Technologies Ltd lifted its position in MYR Group by 52.7% during the third quarter. Qube Research & Technologies Ltd now owns 19,605 shares of the utilities provider’s stock valued at $2,642,000 after purchasing an additional 6,766 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in MYR Group by 1,239.0% during the third quarter. Tower Research Capital LLC TRC now owns 5,115 shares of the utilities provider’s stock valued at $689,000 after purchasing an additional 4,733 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

MYR Group Trading Down 1.9 %

Shares of MYRG opened at $135.71 on Friday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 26.30 and a beta of 1.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.40 and a current ratio of 1.40. MYR Group Inc. has a fifty-two week low of $110.87 and a fifty-two week high of $181.02. The firm has a 50 day moving average price of $152.01 and a 200-day moving average price of $154.06.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.10. The firm had revenue of $815.56 million during the quarter, compared to analyst estimates of $854.13 million. MYR Group had a net margin of 2.38% and a return on equity of 13.64%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business posted $1.38 EPS. As a group, equities research analysts forecast that MYR Group Inc. will post 5.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MYRG has been the subject of several research analyst reports. Robert W. Baird dropped their target price on shares of MYR Group from $185.00 to $180.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Stifel Nicolaus dropped their target price on shares of MYR Group from $185.00 to $184.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $173.25.

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.