Fisher Asset Management LLC Purchases 21,304 Shares of MYR Group, Inc. $MYRG

Fisher Asset Management LLC lifted its position in MYR Group, Inc. (NASDAQ:MYRG) by 4.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 471,706 shares of the utilities provider’s stock after purchasing an additional 21,304 shares during the quarter. Fisher Asset Management LLC owned 3.04% of MYR Group worth $103,068,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings 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 worth $276,501,000 after purchasing an additional 40,164 shares during the last quarter. Wellington Management Group LLP grew its holdings 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 worth $129,975,000 after purchasing an additional 255,493 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of MYR Group by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 389,009 shares of the utilities provider’s stock worth $84,998,000 after purchasing an additional 8,695 shares during the last quarter. Invesco Ltd. lifted its position in MYR Group by 59.9% during the 3rd quarter. Invesco Ltd. now owns 245,435 shares of the utilities provider’s stock worth $51,058,000 after buying an additional 91,923 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in MYR Group during the 4th quarter worth about $47,012,000. Institutional investors own 88.90% of the company’s stock.

MYR Group Stock Performance

MYR Group stock opened at $446.90 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. MYR Group, Inc. has a 1 year low of $154.55 and a 1 year high of $480.00. The company has a market cap of $6.96 billion, a PE ratio of 49.27 and a beta of 1.30. The company’s 50-day moving average is $347.68 and its two-hundred day moving average is $278.86.

MYR Group (NASDAQ:MYRG) last released its earnings results on Wednesday, April 29th. The utilities provider reported $2.99 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $932.45 million. During the same period in the prior year, the company posted $1.45 EPS. The company’s revenue was up 20.0% compared to the same quarter last year. Equities analysts anticipate that MYR Group, Inc. will post 10.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

About MYR Group

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.