Linden Thomas Advisory Services LLC Raises Position in MYR Group Inc. (NASDAQ:MYRG)

Linden Thomas Advisory Services LLC lifted its holdings in MYR Group Inc. (NASDAQ:MYRG) by 4.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,300 shares of the utilities provider’s stock after purchasing an additional 493 shares during the period. Linden Thomas Advisory Services LLC’s holdings in MYR Group were worth $1,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MYRG. Daiwa Securities Group Inc. bought a new stake in MYR Group during the 4th quarter valued at $29,000. IFP Advisors Inc acquired a new position in shares of MYR Group in the 3rd quarter valued at about $54,000. Planned Solutions Inc. acquired a new position in shares of MYR Group in the 4th quarter valued at about $130,000. Quantbot Technologies LP raised its holdings in MYR Group by 446.3% in the 3rd quarter. Quantbot Technologies LP now owns 1,475 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 1,205 shares during the period. Finally, Assetmark Inc. raised its holdings in MYR Group by 15.2% in the 3rd quarter. Assetmark Inc. now owns 1,689 shares of the utilities provider’s stock worth $228,000 after purchasing an additional 223 shares during the period. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. KeyCorp assumed coverage on MYR Group in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. Stifel Nicolaus dropped their price target on MYR Group from $185.00 to $184.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. Finally, Sidoti lowered MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price target for the company. in a research report on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $170.75.

MYR Group Trading Down 0.0 %

MYR Group stock traded down $0.03 during mid-day trading on Wednesday, hitting $164.35. The company’s stock had a trading volume of 25,666 shares, compared to its average volume of 132,092. The firm has a market capitalization of $2.75 billion, a PE ratio of 30.37 and a beta of 1.08. MYR Group Inc. has a 1 year low of $110.87 and a 1 year high of $181.02. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $164.69 and its two-hundred day moving average is $145.11.

MYR Group (NASDAQ:MYRG) last released its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. MYR Group had a return on equity of 14.80% and a net margin of 2.50%. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $904.76 million. During the same period in the prior year, the firm earned $1.46 earnings per share. The firm’s revenue was up 16.2% compared to the same quarter last year. On average, 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.