MYR Group Inc. (NASDAQ:MYRG) Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP increased its position in MYR Group Inc. (NASDAQ:MYRG) by 57.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 19,366 shares of the utilities provider’s stock after acquiring an additional 7,060 shares during the period. Quantbot Technologies LP’s holdings in MYR Group were worth $1,980,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Fisher Asset Management LLC raised its position in MYR Group by 11.1% in the third quarter. Fisher Asset Management LLC now owns 37,752 shares of the utilities provider’s stock worth $3,859,000 after acquiring an additional 3,759 shares in the last quarter. Swedbank AB raised its holdings in shares of MYR Group by 6.0% in the 3rd quarter. Swedbank AB now owns 267,000 shares of the utilities provider’s stock worth $27,295,000 after purchasing an additional 15,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in MYR Group by 8.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 233,055 shares of the utilities provider’s stock valued at $23,825,000 after purchasing an additional 17,580 shares during the last quarter. Intech Investment Management LLC boosted its holdings in MYR Group by 153.5% during the third quarter. Intech Investment Management LLC now owns 10,378 shares of the utilities provider’s stock worth $1,061,000 after buying an additional 6,284 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in MYR Group by 4.9% in the third quarter. Advisors Asset Management Inc. now owns 22,250 shares of the utilities provider’s stock worth $2,275,000 after buying an additional 1,049 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

MYRG has been the subject of a number of recent research reports. StockNews.com upgraded MYR Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Robert W. Baird increased their price target 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 price objective on MYR Group from $172.00 to $119.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, The Goldman Sachs Group raised their target price on shares of MYR Group from $124.00 to $153.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, MYR Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.75.

MYR Group Stock Performance

Shares of MYRG stock opened at $157.77 on Friday. The stock’s fifty day simple moving average is $125.38 and its 200-day simple moving average is $127.00. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 68.90 and a beta of 0.89. 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 Inc. has a 1-year low of $86.60 and a 1-year high of $181.02.

MYR Group (NASDAQ:MYRG) last issued its earnings results on Wednesday, October 30th. The utilities provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.40. The company had revenue of $888.00 million for 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 quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. On average, sell-side analysts predict that MYR Group Inc. will post 1.16 earnings per share for the current fiscal year.

MYR Group Company 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.