MYR Group, Inc. $MYRG Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its stake in MYR Group, Inc. (NASDAQ:MYRG) by 557.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,952 shares of the utilities provider’s stock after buying an additional 20,309 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.15% of MYR Group worth $4,983,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MAI Capital Management lifted its holdings in MYR Group by 44.8% in the second quarter. MAI Capital Management now owns 181 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 56 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of MYR Group during the 2nd quarter worth approximately $34,000. Elevation Point Wealth Partners LLC purchased a new position in shares of MYR Group during the 2nd quarter valued at approximately $34,000. Salomon & Ludwin LLC acquired a new position in shares of MYR Group in the 3rd quarter valued at $34,000. Finally, UMB Bank n.a. lifted its stake in shares of MYR Group by 266.0% in the 2nd quarter. UMB Bank n.a. now owns 194 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 141 shares during the period. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MYR Group

In other news, COO Don A. Egan sold 2,900 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $233.40, for a total transaction of $676,860.00. Following the completion of the sale, the chief operating officer owned 5,797 shares of the company’s stock, valued at $1,353,019.80. This represents a 33.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the stock. Stifel Nicolaus raised their price target on shares of MYR Group from $210.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Zacks Research lowered shares of MYR Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Clear Str upgraded MYR Group to a “strong-buy” rating in a research report on Monday, December 15th. Cantor Fitzgerald initiated coverage on MYR Group in a research note on Friday. They issued an “overweight” rating and a $285.00 price target for the company. Finally, The Goldman Sachs Group upped their price target on MYR Group from $205.00 to $248.00 and gave the stock a “neutral” rating in a report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $213.57.

MYR Group Trading Down 2.2%

Shares of MYR Group stock opened at $244.60 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.11. MYR Group, Inc. has a twelve month low of $97.72 and a twelve month high of $263.48. The firm has a market capitalization of $3.80 billion, a PE ratio of 39.52 and a beta of 1.18. The firm’s 50-day moving average price is $226.49 and its 200 day moving average price is $207.14.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings data on Wednesday, October 29th. The utilities provider reported $2.05 EPS for the quarter, topping the consensus estimate of $1.82 by $0.23. The company had revenue of $950.40 million during the quarter, compared to analyst estimates of $931.72 million. MYR Group had a return on equity of 16.65% and a net margin of 2.78%.MYR Group’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 EPS. On average, sell-side analysts predict that MYR Group, Inc. will post 1.16 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.