MYR Group Inc. (NASDAQ:MYRG) Shares Sold by Gilder Gagnon Howe & Co. LLC

Gilder Gagnon Howe & Co. LLC lessened its stake in shares of MYR Group Inc. (NASDAQ:MYRGFree Report) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 187,095 shares of the utilities provider’s stock after selling 502 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned about 1.12% of MYR Group worth $27,060,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MYRG. Daiwa Securities Group Inc. acquired a new position in MYR Group in the fourth quarter worth approximately $29,000. Quest Partners LLC acquired a new position in MYR Group in the fourth quarter worth approximately $60,000. GAMMA Investing LLC acquired a new position in MYR Group in the fourth quarter worth approximately $62,000. Planned Solutions Inc. acquired a new position in MYR Group in the fourth quarter worth approximately $130,000. Finally, Assetmark Inc. grew its position in MYR Group by 11.9% in the fourth quarter. Assetmark Inc. now owns 1,890 shares of the utilities provider’s stock worth $273,000 after buying an additional 201 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

MYR Group Stock Down 3.0 %

Shares of NASDAQ:MYRG traded down $4.36 during midday trading on Thursday, hitting $142.27. 67,818 shares of the stock were exchanged, compared to its average volume of 125,693. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.40 and a current ratio of 1.40. MYR Group Inc. has a 52-week low of $110.87 and a 52-week high of $181.02. The business’s fifty day simple moving average is $159.62 and its two-hundred day simple moving average is $153.30. The company has a market capitalization of $2.38 billion, a PE ratio of 27.94 and a beta of 1.04.

MYR Group (NASDAQ:MYRGGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.10. MYR Group had a return on equity of 13.64% and a net margin of 2.38%. The business had revenue of $815.56 million during the quarter, compared to analyst estimates of $854.13 million. During the same period last year, the company earned $1.38 earnings per share. MYR Group’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts predict that MYR Group Inc. will post 5.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on MYRG. Sidoti lowered shares of MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price target on the stock. in a research report on Monday, February 26th. Stifel Nicolaus reduced their price objective on MYR Group from $185.00 to $184.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. Finally, Robert W. Baird dropped their target price on MYR Group from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, MYR Group has an average rating of “Moderate Buy” and a consensus target price of $173.25.

Read Our Latest Research Report on MYRG

MYR Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MYR Group (NASDAQ:MYRG)

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