FACT Capital LP Has $10.91 Million Stock Holdings in MYR Group Inc. (NASDAQ:MYRG)

FACT Capital LP grew its stake in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 29.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,355 shares of the utilities provider's stock after purchasing an additional 16,475 shares during the quarter. MYR Group accounts for 4.8% of FACT Capital LP's investment portfolio, making the stock its 10th biggest position. FACT Capital LP owned 0.46% of MYR Group worth $10,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. ANTIPODES PARTNERS Ltd lifted its holdings in MYR Group by 13.2% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock worth $92,000 after buying an additional 72 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of MYR Group by 0.9% in the fourth quarter. Captrust Financial Advisors now owns 8,519 shares of the utilities provider's stock worth $1,267,000 after acquiring an additional 75 shares in the last quarter. MCF Advisors LLC boosted its holdings in MYR Group by 470.0% in the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Morgan Dempsey Capital Management LLC grew its stake in MYR Group by 17.5% during the 4th quarter. Morgan Dempsey Capital Management LLC now owns 1,317 shares of the utilities provider's stock valued at $196,000 after purchasing an additional 196 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in MYR Group by 6.3% during the 4th quarter. Bank of Montreal Can now owns 3,356 shares of the utilities provider's stock worth $499,000 after purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

Analyst Ratings Changes

MYRG has been the topic of several recent analyst reports. KeyCorp upped their price target on shares of MYR Group from $136.00 to $163.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Stifel Nicolaus reduced their target price on MYR Group from $157.00 to $131.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Piper Sandler upped their price target on MYR Group from $124.00 to $138.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Robert W. Baird boosted their target price on shares of MYR Group from $159.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Wall Street Zen raised shares of MYR Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MYR Group presently has an average rating of "Buy" and a consensus target price of $149.40.

MYR Group Stock Up 0.2%

Shares of MYRG stock traded up $0.34 on Friday, reaching $157.41. 221,845 shares of the company's stock traded hands, compared to its average volume of 221,646. The business's 50 day moving average price is $130.63 and its two-hundred day moving average price is $139.11. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market capitalization of $2.44 billion, a P/E ratio of 68.74 and a beta of 1.06. MYR Group Inc. has a 12-month low of $86.60 and a 12-month high of $168.88.

MYR Group (NASDAQ:MYRG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.18 by $0.27. MYR Group had a net margin of 1.08% and a return on equity of 6.05%. The company had revenue of $833.62 million for the quarter, compared to analyst estimates of $788.98 million. MYR Group's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 EPS. On average, equities analysts forecast that MYR Group Inc. will post 1.16 earnings per share for the current year.

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.