Militia Capital Management LLC Invests $847,000 in MYR Group, Inc. $MYRG

Key Points

• Militia Capital Management opened a new position in MYR Group during the first quarter, buying 3,000 shares valued at about $847,000.
• MYR Group reported strong quarterly results, with EPS of $2.99 beating estimates and revenue of $1 billion topping forecasts; revenue rose 20% year over year.
• Despite the earnings beat, the stock was down slightly and analyst sentiment was mixed, with a Moderate Buy consensus and an average price target of $389.83.

Militia Capital Management LLC acquired a new position in shares of MYR Group, Inc. (NASDAQ:MYRG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,000 shares of the utilities provider's stock, valued at approximately $847,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its position in MYR Group by 207.9% in the 1st quarter. Parallel Advisors LLC now owns 117 shares of the utilities provider's stock worth $33,000 after buying an additional 79 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of MYR Group by 212.2% during the fourth quarter. Farther Finance Advisors LLC now owns 153 shares of the utilities provider's stock worth $33,000 after buying an additional 104 shares during the last quarter. Acumen Wealth Advisors LLC bought a new stake in shares of MYR Group in the fourth quarter valued at approximately $35,000. Signaturefd LLC boosted its position in shares of MYR Group by 65.7% in the fourth quarter. Signaturefd LLC now owns 164 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 65 shares during the period. Finally, Hantz Financial Services Inc. grew its stake in shares of MYR Group by 271.2% in the fourth quarter. Hantz Financial Services Inc. now owns 219 shares of the utilities provider's stock worth $48,000 after acquiring an additional 160 shares during the last quarter. Institutional investors own 88.90% of the company's stock.

MYR Group Stock Down 0.4%

Shares of MYRG stock opened at $407.40 on Friday. MYR Group, Inc. has a one year low of $171.51 and a one year high of $503.57. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a fifty day moving average price of $442.99 and a 200 day moving average price of $345.20. The stock has a market cap of $6.34 billion, a P/E ratio of 44.92 and a beta of 1.31.

MYR Group (NASDAQ:MYRG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.90. MYR Group had a net margin of 3.71% and a return on equity of 22.14%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $932.45 million. During the same quarter in the previous year, the firm posted $1.45 EPS. The business's revenue for the quarter was up 20.0% on a year-over-year basis. Analysts predict that MYR Group, Inc. will post 11.43 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on MYRG. Zacks Research lowered shares of MYR Group from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 10th. Robert W. Baird set a $373.00 price target on shares of MYR Group in a research report on Thursday, April 30th. Oppenheimer restated a "market perform" rating on shares of MYR Group in a report on Thursday, June 11th. Jefferies Financial Group set a $392.00 price objective on shares of MYR Group in a research report on Friday, July 10th. Finally, Stifel Nicolaus set a $503.00 target price on shares of MYR Group in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $389.83.

Insider Activity

In related news, Director Donald C.I. Lucky sold 14,675 shares of the company's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $449.53, for a total value of $6,596,852.75. Following the sale, the director owned 5,579 shares of the company's stock, valued at $2,507,927.87. The trade was a 72.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenneth Michael Hartwick sold 3,500 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $450.50, for a total transaction of $1,576,750.00. Following the completion of the transaction, the director directly owned 18,631 shares of the company's stock, valued at $8,393,265.50. This trade represents a 15.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by insiders.

About MYR Group

MYR Group Inc NASDAQ: MYRG is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.

Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.

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