Harbor Investment Advisory LLC reduced its holdings in shares of MYR Group Inc. (NASDAQ:MYRG – Get Rating ) by 24.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 866 shares of the utilities provider’s stock after selling 281 shares during the quarter. Harbor Investment Advisory LLC’s holdings in MYR Group were worth $81,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of MYR Group by 49.2% during the 4th quarter. Barclays PLC now owns 26,464 shares of the utilities provider’s stock valued at $2,926,000 after buying an additional 8,727 shares during the period. Millennium Management LLC raised its stake in MYR Group by 26.3% in the 4th quarter. Millennium Management LLC now owns 275,187 shares of the utilities provider’s stock valued at $30,422,000 after acquiring an additional 57,218 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in MYR Group by 49.1% in the 4th quarter. Rice Hall James & Associates LLC now owns 50,091 shares of the utilities provider’s stock valued at $5,538,000 after acquiring an additional 16,506 shares during the last quarter. Summit Global Investments acquired a new position in MYR Group in the 4th quarter worth about $520,000. Finally, Gotham Asset Management LLC acquired a new position in MYR Group in the 4th quarter worth about $214,000. The institutional investors and hedge funds own 86.17% of the company’s shares.
Shares of MYRG stock opened at $86.25 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.44, and a quick ratio of 1.44. The firm has a market cap of $1.47 billion, a P/E ratio of 17.25 and a beta of 1.12. The business’s 50-day moving average is $86.59, and its two-hundred-day moving average is $92.56. MYR Group Inc. has a 1-year low of $74.77 and a 1-year high of $121.22.
MYR Group (NASDAQ:MYRG – Get Rating ) last posted its quarterly earnings results on Wednesday, April 27th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.18. The company had revenue of $636.62 million for the quarter, compared to analyst estimates of $605.10 million. MYR Group has a return on equity of 16.96% and a net margin of 3.37%. During the same quarter last year, the company earned $1.17 EPS. On average, analysts expect MYR Group Inc. to post 5.05 EPS for the current year.
Several equities analysts recently issued reports on MYRG shares. Stifel Nicolaus cut their target price on MYR Group from $126.00 to $101.00 in a research note on Wednesday, April 27th. StockNews.com lowered MYR Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 6th.
MYR Group Profile (Get Rating)
MYR Group Inc, through its subsidiaries, provides electrical construction services in the United States and Canada. It operates in two segments, Transmission & Distribution and Commercial & Industrial. The Transmission and Distribution segment offers a range of services for power transmission and distribution networks and substation facilities, including design, engineering, supply, construction, upgrading, maintenance and repair services with a primary focus on the construction, maintenance and repair of customers in the electricity industry; and services, including construction and maintenance of high voltage transmission lines, substations and low voltage underground and overhead distribution systems, renewable energy facilities and limited gas construction services, and emergency recovery services in response to a hurricane, ice or other storm related damage.
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