Knights of Columbus Asset Advisors LLC Has $6.06 Million Holdings in MYR Group Inc. (NASDAQ:MYRG)

Knights of Columbus Asset Advisors LLC raised its stake in MYR Group Inc. (NASDAQ:MYRG) by 11.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,888 shares of the utilities provider’s stock after acquiring an additional 4,460 shares during the quarter. Knights of Columbus Asset Advisors LLC owned about 0.25% of MYR Group worth $6,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in MYR Group by 1.8% in the 2nd quarter. BlackRock Inc. now owns 3,049,734 shares of the utilities provider’s stock valued at $421,900,000 after acquiring an additional 54,182 shares in the last quarter. Vanguard Group Inc. grew its position in shares of MYR Group by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,228,706 shares of the utilities provider’s stock worth $104,109,000 after buying an additional 37,252 shares during the period. Victory Capital Management Inc. grew its position in shares of MYR Group by 25.4% during the 4th quarter. Victory Capital Management Inc. now owns 635,475 shares of the utilities provider’s stock worth $58,508,000 after buying an additional 128,881 shares during the period. State Street Corp grew its position in shares of MYR Group by 0.9% during the 2nd quarter. State Street Corp now owns 595,022 shares of the utilities provider’s stock worth $82,315,000 after buying an additional 5,385 shares during the period. Finally, Millennium Management LLC grew its position in shares of MYR Group by 13.8% during the 4th quarter. Millennium Management LLC now owns 560,654 shares of the utilities provider’s stock worth $51,619,000 after buying an additional 67,933 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

MYR Group Stock Up 0.6 %

MYRG traded up $0.90 during trading on Friday, reaching $159.73. The company had a trading volume of 20,787 shares, compared to its average volume of 133,416. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.37 and a quick ratio of 1.37. MYR Group Inc. has a 12 month low of $110.87 and a 12 month high of $181.02. The business’s fifty day moving average price is $164.35 and its 200 day moving average price is $144.18. The company has a market cap of $2.67 billion, a P/E ratio of 29.30 and a beta of 1.08.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. MYR Group had a net margin of 2.50% and a return on equity of 14.80%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $904.76 million. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The business’s revenue was up 16.2% on a year-over-year basis. Equities analysts anticipate that MYR Group Inc. will post 6.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MYRG. Sidoti cut shares of MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price target for the company. in a research report on Monday, February 26th. KeyCorp started coverage on shares of MYR Group in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. Finally, Stifel Nicolaus reduced their price objective on shares of MYR Group from $185.00 to $184.00 and set a “buy” rating on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $170.75.

About MYR Group

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.