MYR Group Inc. (NASDAQ:MYRG) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV decreased its stake in MYR Group Inc. (NASDAQ:MYRG) by 85.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,193 shares of the utilities provider’s stock after selling 23,903 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in MYR Group were worth $624,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Jane Street Group LLC increased its stake in shares of MYR Group by 43.0% during the fourth quarter. Jane Street Group LLC now owns 30,070 shares of the utilities provider’s stock worth $4,474,000 after purchasing an additional 9,041 shares in the last quarter. Northern Trust Corp increased its stake in shares of MYR Group by 1.9% during the fourth quarter. Northern Trust Corp now owns 183,156 shares of the utilities provider’s stock worth $27,248,000 after purchasing an additional 3,422 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of MYR Group by 3.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 8,568 shares of the utilities provider’s stock worth $1,275,000 after purchasing an additional 313 shares in the last quarter. Boothbay Fund Management LLC increased its stake in shares of MYR Group by 55.7% during the fourth quarter. Boothbay Fund Management LLC now owns 6,468 shares of the utilities provider’s stock worth $962,000 after purchasing an additional 2,314 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of MYR Group during the fourth quarter worth about $208,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

MYR Group Stock Performance

MYRG opened at $155.25 on Monday. The firm has a market capitalization of $2.41 billion, a PE ratio of 67.80 and a beta of 1.06. MYR Group Inc. has a twelve month low of $86.60 and a twelve month high of $168.88. The firm’s 50-day moving average price is $121.52 and its 200 day moving average price is $136.77. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.27. The firm had revenue of $833.62 million for the quarter, compared to analyst estimates of $788.98 million. MYR Group had a net margin of 1.08% and a return on equity of 6.05%. MYR Group’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 earnings per share. As a group, sell-side analysts expect that MYR Group Inc. will post 1.16 EPS for the current fiscal year.

Analyst Ratings Changes

MYRG has been the subject of a number of research reports. StockNews.com raised shares of MYR Group from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. KeyCorp boosted their target price on shares of MYR Group from $136.00 to $163.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Piper Sandler boosted their target price on shares of MYR Group from $124.00 to $138.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Robert W. Baird boosted their price target on shares of MYR Group from $159.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus lowered their price target on shares of MYR Group from $157.00 to $131.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.40.

MYR Group Profile

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.