Comerica Bank Has $1.15 Million Stock Position in MYR Group Inc. (NASDAQ:MYRG)

Comerica Bank lessened its holdings in MYR Group Inc. (NASDAQ:MYRGGet Rating) by 11.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,758 shares of the utilities provider’s stock after selling 1,710 shares during the quarter. Comerica Bank owned 0.08% of MYR Group worth $1,147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Captrust Financial Advisors boosted its stake in 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 buying an additional 104 shares in the last quarter. Eqis Capital Management Inc. grew its holdings in shares of MYR Group by 5.9% during the 2nd quarter. Eqis Capital Management Inc. now owns 2,765 shares of the utilities provider’s stock valued at $244,000 after purchasing an additional 153 shares during the last quarter. Legal & General Group Plc increased its position in MYR Group by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 47,209 shares of the utilities provider’s stock worth $4,161,000 after purchasing an additional 214 shares in the last quarter. Yousif Capital Management LLC lifted its stake in MYR Group by 1.3% in the 1st quarter. Yousif Capital Management LLC now owns 16,902 shares of the utilities provider’s stock valued at $1,589,000 after purchasing an additional 215 shares during the last quarter. Finally, Texas Permanent School Fund boosted its position in MYR Group by 2.8% in the second quarter. Texas Permanent School Fund now owns 12,290 shares of the utilities provider’s stock valued at $1,083,000 after buying an additional 330 shares in the last quarter. Institutional investors own 85.19% of the company’s stock.

MYR Group Price Performance

Shares of NASDAQ:MYRG opened at $97.14 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.43 and a current ratio of 1.43. MYR Group Inc. has a 52 week low of $74.77 and a 52 week high of $102.03. The firm has a market cap of $1.61 billion, a PE ratio of 20.89 and a beta of 1.04. The firm’s fifty day moving average is $93.79 and its 200-day moving average is $92.04.

MYR Group (NASDAQ:MYRGGet Rating) last posted its quarterly earnings data on Wednesday, October 26th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.10). The company had revenue of $799.85 million during the quarter, compared to analyst estimates of $724.60 million. MYR Group had a return on equity of 14.98% and a net margin of 2.85%. Sell-side analysts predict that MYR Group Inc. will post 4.51 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MYRG. StockNews.com upgraded MYR Group from a “hold” rating to a “buy” rating in a research note on Thursday, December 1st. Robert W. Baird upgraded MYR Group from a “neutral” rating to an “outperform” rating and increased their target price for the company from $92.00 to $95.00 in a research report on Friday, October 28th. Finally, KeyCorp raised MYR Group from a “sector weight” rating to an “overweight” rating and set a $99.00 price target on the stock in a research note on Friday, October 28th.

About MYR Group

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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, renewable power facilities, and limited gas construction services, as well as emergency restoration services in response to hurricane, ice, or other storm related damages.

See Also

Institutional Ownership by Quarter for MYR Group (NASDAQ:MYRG)

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