MetLife Investment Management LLC Has $735,000 Holdings in MYR Group Inc. (NASDAQ:MYRG)

Posted by on Mar 2nd, 2023

MetLife Investment Management LLC grew its stake in shares of MYR Group Inc. (NASDAQ:MYRG – Get Rating) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,675 shares of the utilities provider’s stock after acquiring an additional 221 shares during the period. MetLife Investment Management LLC owned 0.05% of MYR Group worth $735,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MYRG. Quantbot Technologies LP bought a new position in shares of MYR Group during the third quarter worth approximately $39,000. Wipfli Financial Advisors LLC bought a new position in shares of MYR Group during the third quarter worth approximately $42,000. Paragon Wealth Strategies LLC bought a new position in shares of MYR Group during the third quarter worth approximately $46,000. UBS Group AG increased its holdings in shares of MYR Group by 696.6% during the third quarter. UBS Group AG now owns 1,171 shares of the utilities provider’s stock worth $99,000 after purchasing an additional 1,024 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of MYR Group during the second quarter worth approximately $218,000. 85.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on MYRG shares. Robert W. Baird raised their target price on shares of MYR Group from $95.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, February 23rd. StockNews.com raised shares of MYR Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday.

MYR Group Stock Performance

Shares of NASDAQ:MYRG opened at $121.69 on Thursday. The company’s 50 day simple moving average is $98.72 and its 200 day simple moving average is $93.84. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 24.78 and a beta of 1.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.33 and a quick ratio of 1.33. MYR Group Inc. has a 1 year low of $74.77 and a 1 year high of $124.37.

MYR Group (NASDAQ:MYRG – Get Rating) last posted its earnings results on Wednesday, February 22nd. The utilities provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.41. The firm had revenue of $863.96 million for the quarter, compared to analysts’ expectations of $736.59 million. MYR Group had a net margin of 2.77% and a return on equity of 15.42%. The company’s revenue was up 33.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 earnings per share. As a group, research analysts predict that MYR Group Inc. will post 5.43 EPS for the current fiscal year.

About MYR Group

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MYR Group, Inc is a holding company, which engages in the provision of electrical construction services. It operates through the Transmission and Distribution (T&D) and Commercial and Industrial (C&I) segments. The T&D segment offers a range of services on electric transmission and distribution networks and substation facilities.

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

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