MYR Group Inc. (NASDAQ:MYRG) Shares Purchased by Yousif Capital Management LLC

Yousif Capital Management LLC grew its holdings in shares of MYR Group Inc. (NASDAQ:MYRG) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,694 shares of the utilities provider’s stock after acquiring an additional 404 shares during the period. Yousif Capital Management LLC owned about 0.05% of MYR Group worth $1,257,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Linden Thomas Advisory Services LLC grew its stake in MYR Group by 4.6% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,300 shares of the utilities provider’s stock valued at $1,634,000 after purchasing an additional 493 shares in the last quarter. Mitchell Capital Management Co. grew its position in shares of MYR Group by 0.6% during the third quarter. Mitchell Capital Management Co. now owns 33,627 shares of the utilities provider’s stock worth $4,532,000 after buying an additional 199 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of MYR Group in the fourth quarter worth $62,000. Qube Research & Technologies Ltd raised its holdings in MYR Group by 52.7% in the third quarter. Qube Research & Technologies Ltd now owns 19,605 shares of the utilities provider’s stock valued at $2,642,000 after acquiring an additional 6,766 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in MYR Group by 85.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 110,119 shares of the utilities provider’s stock valued at $15,927,000 after acquiring an additional 50,848 shares during the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of MYR Group from $185.00 to $184.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Sidoti downgraded MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 target price on the stock. in a report on Monday, February 26th. KeyCorp began coverage on MYR Group in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Finally, Robert W. Baird reduced their price objective on MYR Group from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $173.25.

MYR Group Stock Performance

Shares of MYRG stock opened at $143.92 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $165.89 and a two-hundred day moving average of $146.55. The company has a market cap of $2.41 billion, a P/E ratio of 27.89 and a beta of 1.10. MYR Group Inc. has a 52 week low of $110.87 and a 52 week high of $181.02.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.10. The firm had revenue of $815.56 million during the quarter, compared to the consensus estimate of $854.13 million. MYR Group had a return on equity of 13.84% and a net margin of 2.38%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business earned $1.38 EPS. As a group, analysts anticipate that MYR Group Inc. will post 6.64 EPS for the current year.

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.