MYR Group Inc. (NASDAQ:MYRG) Shares Bought by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC grew its stake in shares of MYR Group Inc. (NASDAQ:MYRG) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,300 shares of the utilities provider’s stock after acquiring an additional 493 shares during the period. Linden Thomas Advisory Services LLC owned about 0.07% of MYR Group worth $1,634,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Daiwa Securities Group Inc. bought a new stake in MYR Group in the 4th quarter valued at about $29,000. IFP Advisors Inc bought a new stake in MYR Group in the 3rd quarter valued at about $54,000. Planned Solutions Inc. bought a new stake in MYR Group in the 4th quarter valued at about $130,000. Quantbot Technologies LP lifted its position in MYR Group by 446.3% in the 3rd quarter. Quantbot Technologies LP now owns 1,475 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 1,205 shares during the last quarter. Finally, Assetmark Inc. lifted its position in MYR Group by 15.2% in the 3rd quarter. Assetmark Inc. now owns 1,689 shares of the utilities provider’s stock valued at $228,000 after purchasing an additional 223 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors.

MYR Group Price Performance

Shares of MYRG traded down $0.03 during mid-day trading on Wednesday, hitting $164.35. The company’s stock had a trading volume of 25,666 shares, compared to its average volume of 132,092. The firm has a 50-day moving average price of $164.69 and a 200 day moving average price of $145.11. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 30.37 and a beta of 1.08. 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 fifty-two week low of $110.87 and a fifty-two week high of $181.02.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings data on Wednesday, February 28th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.02. The company had revenue of $1 billion for the quarter, compared to analysts’ expectations of $904.76 million. MYR Group had a net margin of 2.50% and a return on equity of 14.80%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. On average, research analysts predict that MYR Group Inc. will post 6.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on MYRG. Stifel Nicolaus lowered their target price 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, April 16th. KeyCorp began coverage on shares of MYR Group in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. Finally, Sidoti cut shares of MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 target price on the stock. in a research note on Monday, February 26th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, MYR Group presently has a consensus rating of “Hold” and a consensus price target 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.