1,661 Shares in MYR Group, Inc. $MYRG Bought by MQS Management LLC

MQS Management LLC bought a new position in shares of MYR Group, Inc. (NASDAQ:MYRG) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,661 shares of the utilities provider’s stock, valued at approximately $363,000.

Other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised 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 purchasing an additional 104 shares during the last quarter. Signaturefd LLC raised its holdings in shares of MYR Group by 65.7% during the fourth quarter. Signaturefd LLC now owns 164 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 65 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in shares of MYR Group during the third quarter worth $74,000. USA Financial Formulas purchased a new position in shares of MYR Group during the fourth quarter worth $76,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of MYR Group by 12.7% during the third quarter. Smartleaf Asset Management LLC now owns 418 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

MYR Group Stock Up 1.8%

MYRG opened at $446.90 on Friday. MYR Group, Inc. has a fifty-two week low of $154.55 and a fifty-two week high of $480.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 1.31. The company has a fifty day moving average of $343.90 and a two-hundred day moving average of $276.98. The stock has a market capitalization of $6.96 billion, a price-to-earnings ratio of 49.27 and a beta of 1.30.

MYR Group (NASDAQ:MYRG) last released its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.90. MYR Group had a net margin of 3.71% and a return on equity of 22.14%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $932.45 million. During the same quarter in the previous year, the company earned $1.45 earnings per share. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, research analysts expect that MYR Group, Inc. will post 10.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MYRG has been the subject of several recent research reports. The Goldman Sachs Group raised their target price on shares of MYR Group from $248.00 to $296.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Zacks Research raised shares of MYR Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Cantor Fitzgerald raised their target price on shares of MYR Group from $311.00 to $564.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Stifel Nicolaus set a $503.00 price target on shares of MYR Group in a research report on Monday, May 4th. Finally, Robert W. Baird set a $373.00 price objective on shares of MYR Group in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, MYR Group has a consensus rating of “Moderate Buy” and an average price target of $328.86.

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.