3,894 Shares in MYR Group, Inc. (NASDAQ:MYRG) Acquired by SG Americas Securities LLC

SG Americas Securities LLC bought a new stake in shares of MYR Group, Inc. (NASDAQ:MYRG - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 3,894 shares of the utilities provider's stock, valued at approximately $440,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its stake in shares of MYR Group by 697.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider's stock valued at $49,000 after purchasing an additional 286 shares during the period. Versant Capital Management Inc grew its stake in shares of MYR Group by 85.4% during the first quarter. Versant Capital Management Inc now owns 456 shares of the utilities provider's stock valued at $52,000 after acquiring an additional 210 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its stake in shares of MYR Group by 13.2% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock valued at $92,000 after acquiring an additional 72 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of MYR Group by 52.4% during the fourth quarter. Quadrant Capital Group LLC now owns 666 shares of the utilities provider's stock worth $99,000 after acquiring an additional 229 shares during the last quarter. Finally, Morgan Dempsey Capital Management LLC lifted its stake in shares of MYR Group by 17.5% in the fourth quarter. Morgan Dempsey Capital Management LLC now owns 1,317 shares of the utilities provider's stock worth $196,000 after acquiring an additional 196 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

MYR Group Stock Performance

Shares of NASDAQ MYRG traded up $2.41 during trading on Friday, reaching $182.61. The stock had a trading volume of 231,722 shares, compared to its average volume of 226,820. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a market cap of $2.83 billion, a PE ratio of 83.77 and a beta of 1.17. MYR Group, Inc. has a one year low of $86.60 and a one year high of $188.71. The firm's 50 day moving average price is $154.73 and its two-hundred day moving average price is $141.16.

MYR Group (NASDAQ:MYRG - Get Free Report) last released its earnings results on Wednesday, April 30th. The utilities provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.27. The firm had revenue of $833.62 million during the quarter, compared to analyst estimates of $788.98 million. MYR Group had a net margin of 1.02% and a return on equity of 5.84%. The firm's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 earnings per share. On average, research analysts forecast that MYR Group, Inc. will post 1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MYRG shares. Robert W. Baird raised their price objective on MYR Group from $159.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Piper Sandler raised their price target on shares of MYR Group from $138.00 to $153.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. The Goldman Sachs Group lowered shares of MYR Group from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $145.00 to $168.00 in a research note on Friday, June 6th. Stifel Nicolaus reduced their price objective on shares of MYR Group from $157.00 to $131.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Wall Street Zen raised shares of MYR Group from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.00.

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.