Jacobs Levy Equity Management Inc. raised its holdings in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 16.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 276,136 shares of the utilities provider's stock after purchasing an additional 39,954 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.71% of MYR Group worth $41,081,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. MCF Advisors LLC grew 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 period. Arcadia Investment Management Corp MI acquired a new stake in MYR Group in the fourth quarter valued at approximately $47,000. Smartleaf Asset Management LLC lifted its position in shares of MYR Group by 697.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider's stock valued at $49,000 after acquiring an additional 286 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of MYR Group by 27.0% in the fourth quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider's stock valued at $83,000 after acquiring an additional 118 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd lifted its position in shares of MYR Group by 13.2% in 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. 88.90% of the stock is owned by institutional investors and hedge funds.
MYR Group Trading Up 0.6%
NASDAQ:MYRG traded up $1.04 on Friday, reaching $164.55. The company's stock had a trading volume of 179,227 shares, compared to its average volume of 218,199. MYR Group Inc. has a 12-month low of $86.60 and a 12-month high of $168.88. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 71.86 and a beta of 1.06. The stock has a 50 day moving average price of $126.32 and a 200 day moving average price of $138.27.
MYR Group (NASDAQ:MYRG - Get Free Report) last posted its earnings results on Wednesday, April 30th. The utilities provider reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.27. MYR Group had a return on equity of 6.05% and a net margin of 1.08%. The company had revenue of $833.62 million for the quarter, compared to the consensus estimate of $788.98 million. During the same quarter in the previous year, the business earned $1.12 earnings per share. The company's revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities analysts anticipate that MYR Group Inc. will post 1.16 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have recently weighed in on MYRG shares. Robert W. Baird raised their target price on MYR Group from $159.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. KeyCorp raised their target price on MYR Group from $136.00 to $163.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Piper Sandler raised their target price on MYR Group from $124.00 to $138.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. StockNews.com upgraded MYR Group from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Finally, Stifel Nicolaus decreased their target price on MYR Group from $157.00 to $131.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $149.40.
View Our Latest Report on MYR Group
MYR Group Profile
(
Free Report)
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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