MYR Group Inc. (NASDAQ:MYRG) Shares Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP grew its position in MYR Group Inc. (NASDAQ:MYRG) by 181.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,661 shares of the utilities provider’s stock after purchasing an additional 12,667 shares during the period. GSA Capital Partners LLP’s holdings in MYR Group were worth $2,010,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MYRG. Louisiana State Employees Retirement System lifted its position in MYR Group by 1.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the utilities provider’s stock worth $1,140,000 after acquiring an additional 100 shares in the last quarter. Covestor Ltd lifted its position in MYR Group by 23.7% during the 1st quarter. Covestor Ltd now owns 689 shares of the utilities provider’s stock worth $122,000 after acquiring an additional 132 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in MYR Group by 0.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 28,000 shares of the utilities provider’s stock worth $3,800,000 after acquiring an additional 160 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in MYR Group by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 14,624 shares of the utilities provider’s stock worth $2,585,000 after acquiring an additional 189 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in shares of MYR Group by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 11,252 shares of the utilities provider’s stock valued at $1,527,000 after purchasing an additional 193 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Robert W. Baird upped their target price on MYR Group from $131.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Stifel Nicolaus cut their target price on MYR Group from $172.00 to $119.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. The Goldman Sachs Group upped their target price on MYR Group from $124.00 to $153.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, StockNews.com upgraded MYR Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.75.

MYR Group Price Performance

Shares of NASDAQ MYRG opened at $148.30 on Wednesday. MYR Group Inc. has a twelve month low of $86.60 and a twelve month high of $181.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 64.76 and a beta of 0.89. The business has a 50 day simple moving average of $113.01 and a 200-day simple moving average of $127.36.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.40. The firm had revenue of $888.00 million during the quarter, compared to the consensus estimate of $917.18 million. MYR Group had a return on equity of 6.05% and a net margin of 1.08%. The firm’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 EPS. As a group, equities research analysts expect that MYR Group Inc. will post 1.16 earnings per share 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.