MYR Group, Inc. $MYRG Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System lifted its holdings in MYR Group, Inc. (NASDAQ:MYRG - Free Report) by 23.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,260 shares of the utilities provider's stock after buying an additional 3,520 shares during the quarter. California State Teachers Retirement System owned 0.12% of MYR Group worth $5,155,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in MYR Group by 212.2% in the fourth quarter. Farther Finance Advisors LLC now owns 153 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 104 shares during the period. Parallel Advisors LLC grew its stake in MYR Group by 207.9% in the 1st quarter. Parallel Advisors LLC now owns 117 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 79 shares during the last quarter. Acumen Wealth Advisors LLC purchased a new position in MYR Group during the 4th quarter valued at about $35,000. Signaturefd LLC increased its holdings in MYR Group by 65.7% during the 4th quarter. Signaturefd LLC now owns 164 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 65 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in MYR Group by 271.2% during 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 and hedge funds own 88.90% of the company's stock.

Insider Buying and Selling at MYR Group

In other MYR Group news, Director Donald C.I. Lucky sold 14,675 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $449.53, for a total transaction of $6,596,852.75. Following the completion of the transaction, the director owned 5,579 shares in the company, valued at approximately $2,507,927.87. The trade was a 72.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kenneth Michael Hartwick sold 3,500 shares of the company's 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 sale, the director directly owned 18,631 shares of the company's stock, valued at $8,393,265.50. The trade was 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 owned by insiders.

MYR Group Stock Down 0.8%

MYRG stock opened at $331.13 on Friday. The stock has a market cap of $5.16 billion, a PE ratio of 31.42 and a beta of 1.34. The firm's 50-day simple moving average is $420.32 and its 200 day simple moving average is $352.85. MYR Group, Inc. has a fifty-two week low of $171.51 and a fifty-two week high of $503.57. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.01.

MYR Group (NASDAQ:MYRG - Get Free Report) last posted its earnings results on Wednesday, July 29th. The utilities provider reported $3.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.62 by $0.55. MYR Group had a net margin of 4.13% and a return on equity of 24.17%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $995.74 million. During the same period in the previous year, the business posted $1.70 EPS. MYR Group's revenue was up 20.1% on a year-over-year basis. As a group, sell-side analysts predict that MYR Group, Inc. will post 12.09 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MYRG shares. Oppenheimer reissued a "market perform" rating on shares of MYR Group in a report on Thursday, June 11th. Zacks Research lowered shares of MYR Group from a "strong-buy" rating to a "hold" rating in a report on Friday, July 10th. Robert W. Baird set a $375.00 price target on MYR Group in a research note on Thursday, July 30th. Stifel Nicolaus set a $503.00 target price on shares of MYR Group in a research note on Monday, May 4th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of MYR Group in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $426.00.

MYR Group Profile

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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