KeyCorp upgraded shares of MYR Group (NASDAQ:MYRG – Free Report) from a sector weight rating to an overweight rating in a report released on Friday, Marketbeat.com reports. The firm currently has $136.00 target price on the utilities provider’s stock. KeyCorp also issued estimates for MYR Group’s Q1 2025 earnings at $1.14 EPS.
MYRG has been the topic of several other research reports. Robert W. Baird dropped their price objective on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus increased their price objective on shares of MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.00.
View Our Latest Analysis on MYRG
MYR Group Price Performance
Institutional Investors Weigh In On MYR Group
Several large investors have recently made changes to their positions in MYRG. Wellington Management Group LLP acquired a new stake in shares of MYR Group in the fourth quarter valued at approximately $60,217,000. Jacobs Levy Equity Management Inc. bought a new position in shares of MYR Group in the third quarter valued at approximately $24,145,000. ACK Asset Management LLC bought a new position in shares of MYR Group in the fourth quarter valued at approximately $29,754,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of MYR Group by 42.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 537,347 shares of the utilities provider’s stock valued at $79,942,000 after acquiring an additional 159,302 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of MYR Group by 38.4% in the fourth quarter. Millennium Management LLC now owns 461,830 shares of the utilities provider’s stock valued at $68,706,000 after acquiring an additional 128,159 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.
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.
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