Neumeier Poma Investment Counsel LLC Has $44.04 Million Holdings in MYR Group, Inc. $MYRG

Neumeier Poma Investment Counsel LLC grew its position in MYR Group, Inc. (NASDAQ:MYRG) by 1.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 201,539 shares of the utilities provider’s stock after buying an additional 3,138 shares during the period. MYR Group makes up approximately 3.6% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its 6th largest position. Neumeier Poma Investment Counsel LLC’s holdings in MYR Group were worth $44,036,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MYRG. Farther Finance Advisors LLC boosted its position in MYR Group by 212.2% during the 4th quarter. Farther Finance Advisors LLC now owns 153 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 104 shares during the period. Signaturefd LLC boosted its position 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 purchasing an additional 65 shares during the period. Hantz Financial Services Inc. boosted its position in MYR Group by 271.2% during the 4th quarter. Hantz Financial Services Inc. now owns 219 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 160 shares during the period. Johnson Financial Group Inc. acquired a new position in MYR Group during the 3rd quarter valued at approximately $74,000. Finally, USA Financial Formulas acquired a new position in MYR Group during the 4th quarter valued at approximately $76,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $6,596,852.75. Following the sale, the director owned 5,579 shares of the company’s stock, valued at approximately $2,507,927.87. The trade was a 72.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth Michael Hartwick sold 3,500 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $450.50, for a total value of $1,576,750.00. Following the completion of the sale, the director directly owned 18,631 shares in the company, valued at $8,393,265.50. This represents a 15.81% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is currently owned by insiders.

MYR Group Trading Up 2.3%

Shares of MYRG stock opened at $451.40 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 1.31. MYR Group, Inc. has a 1 year low of $158.48 and a 1 year high of $484.71. The stock has a fifty day moving average of $378.10 and a two-hundred day moving average of $291.70. The firm has a market capitalization of $7.03 billion, a PE ratio of 49.77 and a beta of 1.32.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $2.99 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.90. MYR Group had a return on equity of 22.14% and a net margin of 3.71%.The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $932.45 million. During the same quarter in the previous year, the business earned $1.45 EPS. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, research analysts expect that MYR Group, Inc. will post 10.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MYRG shares. Robert W. Baird set a $373.00 price objective on MYR Group in a research report on Thursday, April 30th. Weiss Ratings restated a “buy (b-)” rating on shares of MYR Group in a research report on Tuesday, April 21st. Cantor Fitzgerald boosted their price objective on MYR Group from $311.00 to $564.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Zacks Research upgraded MYR Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Finally, Stifel Nicolaus set a $503.00 price objective on MYR Group in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MYR Group has an average rating of “Moderate Buy” and an average price target of $358.17.

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.