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

Federated Hermes Inc. reduced its holdings in shares of MYR Group Inc. (NASDAQ:MYRG – Free Report) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,528 shares of the utilities provider’s stock after selling 9,494 shares during the period. Federated Hermes Inc. owned approximately 1.02% of MYR Group worth $23,278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of MYR Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 1,260,930 shares of the utilities provider’s stock valued at $182,368,000 after buying an additional 5,055 shares during the period. Capital World Investors boosted its holdings in MYR Group by 578.4% in the first quarter. Capital World Investors now owns 974,748 shares of the utilities provider’s stock valued at $172,287,000 after acquiring an additional 831,066 shares during the period. Swedbank AB purchased a new position in shares of MYR Group in the first quarter valued at $51,452,000. Charles Schwab Investment Management Inc. raised its position in shares of MYR Group by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 217,313 shares of the utilities provider’s stock worth $31,430,000 after acquiring an additional 890 shares during the period. Finally, Thornburg Investment Management Inc. boosted its position in MYR Group by 15.7% in the first quarter. Thornburg Investment Management Inc. now owns 132,514 shares of the utilities provider’s stock worth $23,422,000 after purchasing an additional 17,936 shares in the last quarter. 88.90% of shares are currently held by institutional investors and hedge funds.

Analysts set new price targets

MYRG has been the subject of several recent analyst reports. Stifel Nicolaus cut their price target on shares of MYR Group from $172.00 to $119.00 and set a “buy” rating for the company in a report on Monday, August 5th. StockNews.com upgraded shares of MYR Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Finally, Robert W. Baird cut their price objective on MYR Group from $170.00 to $143.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st . Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Moderate Buy” and a consensus price target of $147.75, according to MarketBeat .

Check out our latest analysis of MYRG

MYR Group Price Performance

MYR Group stock opened at $98.19 on Monday. The company has a fifty day simple moving average of $114.50 and a 200 day simple moving average of $141.87. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 19.03 and a beta of 0.93. The company has a quick ratio of 1.36, a current ratio of 1.36, and a debt-to-equity ratio of 0.06. MYR Group Inc. it has a 52-week low of $86.60 and a 52-week high of $181.02.

MYR Group (NASDAQ:MYRG – Get Free Report ) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($1.98). MYR Group had a net margin of 1.37% and a return on equity of 7.65%. The business had revenue of $828.89 million for the quarter, compared to analysts’ expectations of $876.07 million. During the same period in the previous year, the company posted EPS of $1.33. The company’s revenue fell 6.7% year over year. On average, equities analysts anticipate that MYR Group Inc. will post 0.91 EPS for the current fiscal year.

About MYR Group

(Free report)

MYR Group Inc, through its subsidiaries, provides electrical construction services in the United States and Canada. It operates in two segments, Transportation and Distribution and Commercial and Industrial. The Transmission and Distribution segment provides a wide range of services related to electric transmission and distribution networks and substation facilities, including design, engineering, procurement, construction, upgrading, maintenance and repair services, with a primary focus on construction, maintenance and repair for customers in the electric utility industry; and services, including construction and maintenance of high-voltage transmission lines, substations and low-voltage underground and overhead distribution systems, clean energy projects and electric vehicle charging infrastructure services, and emergency restoration services as response to hurricane, fire, ice, or other related damage.

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