MYR Group, Inc. $MYRG Shares Bought by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC raised its stake in MYR Group, Inc. (NASDAQ:MYRG) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,332 shares of the utilities provider’s stock after acquiring an additional 75 shares during the period. Linden Thomas Advisory Services LLC owned 0.07% of MYR Group worth $2,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Teacher Retirement System of Texas purchased a new stake in shares of MYR Group in the first quarter valued at about $267,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of MYR Group in the first quarter valued at about $1,922,000. Allspring Global Investments Holdings LLC raised its holdings in shares of MYR Group by 29.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 48,685 shares of the utilities provider’s stock valued at $8,797,000 after buying an additional 11,107 shares during the last quarter. HB Wealth Management LLC purchased a new stake in shares of MYR Group in the second quarter valued at about $224,000. Finally, Nuveen LLC purchased a new stake in shares of MYR Group in the first quarter valued at about $18,511,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

MYR Group Trading Up 5.0%

NASDAQ MYRG opened at $219.63 on Friday. The stock has a market capitalization of $3.41 billion, a P/E ratio of 45.85 and a beta of 1.19. MYR Group, Inc. has a 52-week low of $97.72 and a 52-week high of $221.17. The firm has a 50-day moving average price of $192.07 and a 200 day moving average price of $173.72. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.14.

MYR Group (NASDAQ:MYRG) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.14. MYR Group had a net margin of 2.21% and a return on equity of 13.16%. The company had revenue of $900.33 million during the quarter, compared to analysts’ expectations of $828.20 million. During the same period last year, the company posted ($0.91) earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts expect that MYR Group, Inc. will post 1.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MYR Group in a report on Saturday. KeyCorp reaffirmed a “sector weight” rating on shares of MYR Group in a report on Wednesday, October 1st. Wall Street Zen cut shares of MYR Group from a “strong-buy” rating to a “buy” rating in a report on Friday, October 3rd. Jefferies Financial Group assumed coverage on shares of MYR Group in a report on Friday, August 15th. They issued a “hold” rating and a $202.00 target price for the company. Finally, Stifel Nicolaus upped their target price on shares of MYR Group from $210.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $194.50.

About MYR Group

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.