MYR Group, Inc. $MYRG Stock Position Lowered by Militia Capital Partners LP

Militia Capital Partners LP lessened its position in MYR Group, Inc. (NASDAQ:MYRG) by 36.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,000 shares of the utilities provider’s stock after selling 1,700 shares during the quarter. Militia Capital Partners LP’s holdings in MYR Group were worth $656,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of MYR Group by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 1,265,452 shares of the utilities provider’s stock valued at $276,501,000 after acquiring an additional 40,164 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of MYR Group by 69.2% in the 3rd quarter. Wellington Management Group LLP now owns 624,791 shares of the utilities provider’s stock valued at $129,975,000 after acquiring an additional 255,493 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of MYR Group by 4.7% in the 4th quarter. Fisher Asset Management LLC now owns 471,706 shares of the utilities provider’s stock valued at $103,068,000 after acquiring an additional 21,304 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of MYR Group by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 396,166 shares of the utilities provider’s stock valued at $86,574,000 after acquiring an additional 13,511 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in MYR Group by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 389,009 shares of the utilities provider’s stock valued at $84,998,000 after buying an additional 8,695 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Insider Buying and Selling at MYR Group

In other news, Director Kenneth Michael Hartwick sold 3,500 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $450.50, for a total transaction of $1,576,750.00. Following the transaction, the director owned 18,631 shares in the company, valued at $8,393,265.50. This represents a 15.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Donald C.I. Lucky sold 14,675 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $449.53, for a total transaction of $6,596,852.75. Following the transaction, the director owned 5,579 shares in the company, valued at approximately $2,507,927.87. This trade represents a 72.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on MYRG. Oppenheimer reiterated a “market perform” rating on shares of MYR Group in a research note on Thursday, June 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of MYR Group in a research note on Tuesday, April 21st. Cantor Fitzgerald upped their price objective on shares of MYR Group from $311.00 to $564.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Robert W. Baird set a $373.00 price objective on shares of MYR Group in a research note on Thursday, April 30th. Finally, Stifel Nicolaus set a $503.00 price objective on shares of MYR Group in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, MYR Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $358.17.

MYR Group Stock Performance

Shares of MYRG opened at $446.77 on Wednesday. The company’s fifty day moving average is $402.95 and its 200-day moving average is $304.13. MYR Group, Inc. has a 12 month low of $161.55 and a 12 month high of $484.71. The firm has a market cap of $6.96 billion, a price-to-earnings ratio of 49.26 and a beta of 1.32. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.01.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $2.99 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $932.45 million. During the same quarter in the prior year, the business posted $1.45 EPS. MYR Group’s quarterly revenue was up 20.0% on a year-over-year basis. Equities analysts expect that MYR Group, Inc. will post 10.92 EPS for the current fiscal year.

MYR Group Company 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.