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

GSA Capital Partners LLP raised its holdings in MYR Group Inc. (NASDAQ:MYRG) by 181.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,661 shares of the utilities provider’s stock after acquiring an additional 12,667 shares during the quarter. GSA Capital Partners LLP owned 0.12% of MYR Group worth $2,010,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Covestor Ltd lifted its holdings in MYR Group by 23.7% in the first quarter. Covestor Ltd now owns 689 shares of the utilities provider’s stock valued at $122,000 after acquiring an additional 132 shares during the period. EntryPoint Capital LLC purchased a new position in shares of MYR Group in the first quarter valued at $186,000. RiverPark Advisors LLC increased its position in shares of MYR Group by 21.9% in the second quarter. RiverPark Advisors LLC now owns 1,089 shares of the utilities provider’s stock valued at $148,000 after buying an additional 196 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of MYR Group in the third quarter valued at $116,000. Finally, SG Americas Securities LLC purchased a new position in shares of MYR Group in the first quarter valued at $208,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

MYR Group Trading Down 1.6 %

MYR Group stock opened at $148.30 on Wednesday. The stock has a market cap of $2.39 billion, a PE ratio of 64.76 and a beta of 0.89. The stock has a 50-day moving average price of $113.01 and a 200 day moving average price of $127.36. MYR Group Inc. has a 52 week low of $86.60 and a 52 week 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.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.25 by $0.40. The company had revenue of $888.00 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business earned $1.28 EPS. Equities research analysts predict that MYR Group Inc. will post 1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group raised their price target on MYR Group from $124.00 to $153.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Robert W. Baird raised 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. StockNews.com upgraded MYR Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Stifel Nicolaus dropped their price objective on MYR Group from $172.00 to $119.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, MYR Group has a consensus rating of “Moderate Buy” and a consensus target price of $143.75.

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.