UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 5,695 Shares of MYR Group Inc. (NASDAQ:MYRG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 5.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,460 shares of the utilities provider's stock after selling 5,695 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.57% of MYR Group worth $9,452,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MYRG. RiverPark Advisors LLC boosted its holdings in shares of MYR Group by 21.9% in the 2nd quarter. RiverPark Advisors LLC now owns 1,089 shares of the utilities provider's stock worth $148,000 after purchasing an additional 196 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of MYR Group in the 3rd quarter worth about $116,000. Quest Partners LLC purchased a new stake in MYR Group during the 3rd quarter valued at about $223,000. FMR LLC boosted its holdings in MYR Group by 90.2% during the 3rd quarter. FMR LLC now owns 2,336 shares of the utilities provider's stock valued at $239,000 after acquiring an additional 1,108 shares during the period. Finally, Inspire Investing LLC boosted its holdings in MYR Group by 27.9% during the 2nd quarter. Inspire Investing LLC now owns 2,590 shares of the utilities provider's stock valued at $351,000 after acquiring an additional 565 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on MYRG. StockNews.com upgraded MYR Group from a "sell" rating to a "hold" rating in a report on Monday, November 4th. The Goldman Sachs Group increased their target price on MYR Group from $124.00 to $153.00 and gave the company a "buy" rating in a report on Monday, November 4th. Finally, Robert W. Baird increased their target price on MYR Group from $131.00 to $138.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $143.75.

MYR Group Trading Down 2.2 %

MYRG traded down $3.63 during midday trading on Monday, reaching $162.68. 155,582 shares of the company's stock traded hands, compared to its average volume of 181,216. The firm has a fifty day moving average of $135.09 and a two-hundred day moving average of $127.20. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 71.04 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35. MYR Group Inc. 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 earnings results on Wednesday, October 30th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.40. MYR Group had a return on equity of 6.05% and a net margin of 1.08%. The firm had revenue of $888.00 million during the quarter, compared to analyst estimates of $917.18 million. During the same quarter in the prior year, the company earned $1.28 EPS. The business's revenue was down 5.5% compared to the same quarter last year. On average, equities analysts anticipate that MYR Group Inc. will post 1.16 earnings per share for the current fiscal year.

MYR Group 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.