MYR Group, Inc. $MYRG Shares Purchased by Neumeier Poma Investment Counsel LLC

Neumeier Poma Investment Counsel LLC increased its holdings in shares of MYR Group, Inc. (NASDAQ:MYRG) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,233 shares of the utilities provider’s stock after buying an additional 882 shares during the quarter. MYR Group accounts for about 2.0% of Neumeier Poma Investment Counsel LLC’s portfolio, making the stock its 25th largest position. Neumeier Poma Investment Counsel LLC owned approximately 0.76% of MYR Group worth $21,453,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Maseco LLP acquired a new stake in MYR Group in the second quarter worth about $28,000. Quarry LP increased its holdings in shares of MYR Group by 190.4% during the first quarter. Quarry LP now owns 273 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 179 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of MYR Group in the 2nd quarter valued at approximately $34,000. UMB Bank n.a. raised its position in shares of MYR Group by 266.0% in the 2nd quarter. UMB Bank n.a. now owns 194 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 141 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in MYR Group by 92.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 343 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 165 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MYR Group

In other MYR Group news, COO Don A. Egan sold 2,900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $233.40, for a total value of $676,860.00. Following the sale, the chief operating officer directly owned 5,797 shares of the company’s stock, valued at approximately $1,353,019.80. This trade represents a 33.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

MYRG has been the topic of a number of recent analyst reports. KeyCorp restated a “sector weight” rating on shares of MYR Group in a research note on Wednesday, October 1st. Weiss Ratings restated a “buy (b-)” rating on shares of MYR Group in a research report on Thursday, November 13th. Jefferies Financial Group started coverage on MYR Group in a research report on Friday, August 15th. They set a “hold” rating and a $202.00 price target on the stock. Stifel Nicolaus lifted their price objective on MYR Group from $210.00 to $226.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Finally, Wall Street Zen raised MYR Group from a “buy” rating to a “strong-buy” rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, MYR Group currently has an average rating of “Hold” and a consensus price target of $201.67.

MYR Group Stock Up 0.7%

MYRG opened at $221.72 on Wednesday. The company has a fifty day moving average of $206.45 and a two-hundred day moving average of $187.18. The stock has a market capitalization of $3.44 billion, a price-to-earnings ratio of 35.82 and a beta of 1.24. MYR Group, Inc. has a fifty-two week low of $97.72 and a fifty-two week high of $241.13. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.33 and a current ratio of 1.33.

MYR Group (NASDAQ:MYRG) last posted its earnings results on Wednesday, October 29th. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.23. MYR Group had a net margin of 2.78% and a return on equity of 16.94%. The business had revenue of $950.40 million for the quarter, compared to analyst estimates of $931.72 million. During the same period in the prior year, the company posted $0.65 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts expect that MYR Group, Inc. will post 1.16 earnings per share 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.