MYR Group Inc. (NASDAQ:MYRG) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in MYR Group Inc. (NASDAQ:MYRG) by 153.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,378 shares of the utilities provider’s stock after purchasing an additional 6,284 shares during the period. Intech Investment Management LLC’s holdings in MYR Group were worth $1,061,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MYRG. DekaBank Deutsche Girozentrale purchased a new position in shares of MYR Group during the 3rd quarter worth approximately $116,000. RiverPark Advisors LLC grew its holdings in MYR Group by 21.9% during the second quarter. RiverPark Advisors LLC now owns 1,089 shares of the utilities provider’s stock worth $148,000 after acquiring an additional 196 shares during the period. Quest Partners LLC purchased a new position in MYR Group in the third quarter worth $223,000. Moody National Bank Trust Division acquired a new stake in MYR Group in the second quarter valued at $240,000. Finally, Aigen Investment Management LP purchased a new stake in shares of MYR Group during the 3rd quarter worth $334,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on MYRG shares. Robert W. Baird raised their price objective on shares of MYR Group from $131.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price target on shares of MYR Group from $124.00 to $153.00 and gave the company a “buy” rating in a research report on Monday, November 4th. StockNews.com upgraded MYR Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, Stifel Nicolaus reduced their price objective on MYR Group from $172.00 to $119.00 and set a “buy” rating for the company in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, MYR Group has a consensus rating of “Moderate Buy” and a consensus price target of $143.75.

MYR Group Trading Down 0.6 %

Shares of MYR Group stock opened at $157.77 on Thursday. The business has a 50 day moving average price of $124.19 and a 200 day moving average price of $126.79. The company has a market capitalization of $2.54 billion, a P/E ratio of 69.32 and a beta of 0.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35. 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 quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.40. The business 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 business’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 earnings per share. Sell-side analysts anticipate that MYR Group Inc. will post 1.16 EPS for the current fiscal 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.