VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in MYR Group, Inc. (NASDAQ:MYRG – Free Report) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 3,750 shares of the utilities provider’s stock, valued at approximately $1,876,000.
A number of other institutional investors also recently bought and sold shares of MYRG. Kilter Group LLC purchased a new position in MYR Group in the second quarter worth about $25,000. Carolina Wealth Advisors LLC purchased a new stake in shares of MYR Group during the 2nd quarter valued at about $30,000. Global Retirement Partners LLC purchased a new stake in shares of MYR Group during the 2nd quarter valued at about $30,000. Parallel Advisors LLC lifted its stake 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 purchasing an additional 79 shares during the period. Finally, Acumen Wealth Advisors LLC purchased a new position in shares of MYR Group in the fourth quarter worth approximately $35,000. Institutional investors own 88.90% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Weiss Ratings lowered shares of MYR Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 2nd. Wall Street Zen downgraded shares of MYR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. The Goldman Sachs Group dropped their price target on shares of MYR Group from $469.00 to $422.00 and set a “neutral” rating on the stock in a research note on Thursday, August 13th. Oppenheimer reissued a “market perform” rating on shares of MYR Group in a research report on Thursday, June 11th. Finally, Zacks Research upgraded MYR Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $451.20.
MYR Group Trading Up 2.4%
Shares of NASDAQ:MYRG opened at $291.26 on Friday. The stock has a 50 day moving average of $343.83 and a 200 day moving average of $360.79. The company has a market cap of $4.53 billion, a PE ratio of 27.63 and a beta of 1.31. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. MYR Group, Inc. has a 12-month low of $171.51 and a 12-month high of $503.57.
MYR Group (NASDAQ:MYRG – Get Free Report) last released its earnings results on Wednesday, July 29th. The utilities provider reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.55. MYR Group had a net margin of 4.13% and a return on equity of 24.17%. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $995.74 million. During the same period in the prior year, the firm posted $1.70 EPS. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. As a group, equities research analysts expect that MYR Group, Inc. will post 12.43 EPS for the current year.
MYR Group Company Profile
MYR Group Inc (NASDAQ: MYRG) is a holding company that provides specialized electrical construction and infrastructure services in the United States and Canada. Through its operating subsidiaries, the company serves utilities, renewable energy developers, commercial and industrial businesses, government entities and other customers.
Its utility infrastructure operations focus on the construction, maintenance and repair of electric transmission and distribution systems, substations, storm restoration projects and other power-delivery infrastructure.
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