Militia Capital Management LLC acquired a new position in shares of MYR Group, Inc. (NASDAQ:MYRG – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,000 shares of the utilities provider’s stock, valued at approximately $847,000.
A number of other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its position in shares of MYR Group by 212.2% in the fourth quarter. Farther Finance Advisors LLC now owns 153 shares of the utilities provider’s stock valued at $33,000 after buying an additional 104 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of MYR Group by 207.9% in the 1st quarter. Parallel Advisors LLC now owns 117 shares of the utilities provider’s stock worth $33,000 after buying an additional 79 shares in the last quarter. Acumen Wealth Advisors LLC purchased a new stake in shares of MYR Group in the 4th quarter worth about $35,000. Signaturefd LLC grew its stake in MYR Group by 65.7% in the 4th quarter. Signaturefd LLC now owns 164 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 65 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its stake in MYR Group by 271.2% in the 4th quarter. Hantz Financial Services Inc. now owns 219 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 160 shares during the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.
MYR Group Stock Performance
NASDAQ:MYRG opened at $333.22 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.40 and a quick ratio of 1.40. The firm has a market cap of $5.19 billion, a PE ratio of 31.61 and a beta of 1.34. The firm has a 50 day simple moving average of $430.70 and a 200-day simple moving average of $350.13. MYR Group, Inc. has a 1-year low of $171.51 and a 1-year high of $503.57.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. Zacks Research cut shares of MYR Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Jefferies Financial Group set a $392.00 price target on shares of MYR Group in a research report on Friday, July 10th. Oppenheimer reissued a “market perform” rating on shares of MYR Group in a research note on Thursday, June 11th. Cantor Fitzgerald lifted their price objective on MYR Group from $311.00 to $564.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Stifel Nicolaus set a $503.00 target price on MYR Group in a research note on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $426.00.
Check Out Our Latest Stock Report on MYRG
Insider Buying and Selling at MYR Group
In other news, Director Donald C.I. Lucky sold 14,675 shares of MYR Group stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $449.53, for a total value of $6,596,852.75. Following the completion of the sale, the director owned 5,579 shares of the company’s stock, valued at $2,507,927.87. The trade was a 72.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth Michael Hartwick sold 3,500 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $450.50, for a total value of $1,576,750.00. Following the completion of the transaction, the director owned 18,631 shares of the company’s stock, valued at $8,393,265.50. The trade was a 15.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.90% of the company’s stock.
MYR Group Profile
MYR Group Inc (NASDAQ: MYRG) is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.
Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.
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