1,550 Shares in MYR Group Inc. (NASDAQ:MYRG) Bought by First Bank & Trust

First Bank & Trust bought a new position in MYR Group Inc. (NASDAQ:MYRG) in the 1st quarter, Holdings Channel.com reports. The fund bought 1,550 shares of the utilities provider’s stock, valued at approximately $274,000.

Other hedge funds also recently bought and sold shares of the company. Daiwa Securities Group Inc. bought a new position in MYR Group in the 4th quarter worth $29,000. Quest Partners LLC bought a new position in MYR Group in the 4th quarter worth $60,000. GAMMA Investing LLC bought a new position in MYR Group in the 4th quarter worth $62,000. Planned Solutions Inc. bought a new position in MYR Group in the 4th quarter worth $130,000. Finally, Contravisory Investment Management Inc. boosted its holdings in shares of MYR Group by 1,424.0% during the 1st quarter. Contravisory Investment Management Inc. now owns 1,463 shares of the utilities provider’s stock valued at $259,000 after purchasing an additional 1,367 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

MYR Group Stock Down 1.9 %

MYRG opened at $135.71 on Friday. The firm has a 50-day simple moving average of $152.01 and a two-hundred day simple moving average of $154.06. MYR Group Inc. has a 52 week low of $110.87 and a 52 week high of $181.02. The company has a market capitalization of $2.27 billion, a PE ratio of 26.30 and a beta of 1.04. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.05.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. MYR Group had a net margin of 2.38% and a return on equity of 13.64%. The firm had revenue of $815.56 million during the quarter, compared to the consensus estimate of $854.13 million. During the same quarter last year, the firm earned $1.38 EPS. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts forecast that MYR Group Inc. will post 5.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on MYRG shares. Robert W. Baird dropped their price objective on shares of MYR Group from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus dropped their price objective on shares of MYR Group from $185.00 to $184.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.25.

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.