Blair William & Co. IL Invests $486,000 in MYR Group, Inc. $MYRG

Blair William & Co. IL acquired a new position in shares of MYR Group, Inc. (NASDAQ:MYRG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,681 shares of the utilities provider's stock, valued at approximately $486,000.

A number of other large investors also recently modified their holdings of MYRG. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of MYR Group by 214.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 302,549 shares of the utilities provider's stock worth $34,215,000 after buying an additional 206,369 shares during the last quarter. Nuveen LLC acquired a new position in shares of MYR Group during the 1st quarter worth about $18,511,000. Hawk Ridge Capital Management LP boosted its stake in shares of MYR Group by 30.1% during the 1st quarter. Hawk Ridge Capital Management LP now owns 298,436 shares of the utilities provider's stock worth $33,750,000 after buying an additional 69,100 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of MYR Group during the 1st quarter worth about $6,937,000. Finally, TimesSquare Capital Management LLC lifted its stake in MYR Group by 40.3% in the 1st quarter. TimesSquare Capital Management LLC now owns 168,257 shares of the utilities provider's stock valued at $19,028,000 after purchasing an additional 48,324 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MYRG shares. KeyCorp reiterated a "sector weight" rating on shares of MYR Group in a research note on Wednesday, October 1st. Jefferies Financial Group started coverage on shares of MYR Group in a research note on Friday, August 15th. They issued a "hold" rating and a $202.00 target price for the company. The Goldman Sachs Group raised their target price on shares of MYR Group from $168.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of MYR Group from a "strong-buy" rating to a "buy" rating in a research report on Friday, October 3rd. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of MYR Group in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $194.50.

MYR Group Stock Down 0.9%

Shares of MYRG opened at $208.02 on Friday. MYR Group, Inc. has a 12 month low of $97.72 and a 12 month high of $220.01. The firm's 50 day moving average is $189.70 and its 200-day moving average is $169.77. The stock has a market capitalization of $3.23 billion, a PE ratio of 43.43 and a beta of 1.19. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.14.

MYR Group (NASDAQ:MYRG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $1.70 EPS for the quarter, topping the consensus estimate of $1.56 by $0.14. MYR Group had a net margin of 2.21% and a return on equity of 13.16%. The company had revenue of $900.33 million for the quarter, compared to analysts' expectations of $828.20 million. During the same period last year, the firm earned ($0.91) earnings per share. The business's revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts forecast that MYR Group, Inc. will post 1.16 EPS for the current year.

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.

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