MYR Group (NASDAQ:MYRG) Raised to Overweight at KeyCorp

KeyCorp upgraded shares of MYR Group (NASDAQ:MYRG) from a sector weight rating to an overweight rating in a report released on Friday morning, Marketbeat reports. KeyCorp currently has $136.00 price objective on the utilities provider’s stock. KeyCorp also issued estimates for MYR Group’s Q1 2025 earnings at $1.14 EPS.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird reduced their target price on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus raised their target price on shares of MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, MYR Group presently has a consensus rating of “Moderate Buy” and an average target price of $155.00.

MYR Group Trading Up 5.0 %

Shares of NASDAQ:MYRG opened at $117.21 on Friday. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 51.18 and a beta of 0.93. MYR Group has a 1-year low of $86.60 and a 1-year high of $181.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 1.35. The company has a 50 day moving average price of $135.18 and a 200 day moving average price of $131.76.

Institutional Investors Weigh In On MYR Group

Hedge funds have recently made changes to their positions in the company. MCF Advisors LLC lifted its position in shares of MYR Group by 470.0% in the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 141 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of MYR Group in the 4th quarter valued at approximately $47,000. Smartleaf Asset Management LLC lifted its position in shares of MYR Group by 697.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 286 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of MYR Group by 27.0% in the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock valued at $83,000 after acquiring an additional 118 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd lifted its position in shares of MYR Group by 13.2% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider’s stock valued at $92,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors 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.