Strs Ohio Buys 2,500 Shares of MYR Group, Inc. $MYRG

Strs Ohio raised its stake in MYR Group, Inc. (NASDAQ:MYRG) by 83.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,500 shares of the utilities provider’s stock after acquiring an additional 2,500 shares during the period. Strs Ohio’s holdings in MYR Group were worth $998,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MYRG. Peregrine Capital Management LLC boosted its stake in MYR Group by 1.7% in the 2nd quarter. Peregrine Capital Management LLC now owns 69,669 shares of the utilities provider’s stock worth $12,641,000 after purchasing an additional 1,138 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in MYR Group by 3.9% in the second quarter. Teacher Retirement System of Texas now owns 2,453 shares of the utilities provider’s stock worth $445,000 after buying an additional 92 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of MYR Group in the second quarter worth approximately $661,000. Prudent Man Advisors LLC bought a new position in shares of MYR Group in the second quarter worth approximately $255,000. Finally, Linden Thomas Advisory Services LLC grew its holdings in shares of MYR Group by 0.7% during the second quarter. Linden Thomas Advisory Services LLC now owns 11,332 shares of the utilities provider’s stock valued at $2,056,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Insider Transactions at MYR Group

In other MYR Group news, COO Don A. Egan sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $233.40, for a total transaction of $676,860.00. Following the completion of the sale, the chief operating officer directly owned 5,797 shares of the company’s stock, valued at approximately $1,353,019.80. This represents a 33.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

MYR Group Stock Down 1.0%

MYR Group stock opened at $233.38 on Friday. MYR Group, Inc. has a one year low of $97.72 and a one year high of $241.13. The stock has a fifty day moving average of $199.15 and a 200 day moving average of $180.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $3.62 billion, a PE ratio of 37.70 and a beta of 1.24.

MYR Group (NASDAQ:MYRG) last released its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.23. MYR Group had a return on equity of 16.94% and a net margin of 2.78%.The business had revenue of $950.40 million during the quarter, compared to the consensus estimate of $931.72 million. During the same period in the previous year, the company posted $0.65 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts predict that MYR Group, Inc. will post 1.16 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on MYRG shares. Jefferies Financial Group began coverage on MYR Group in a research report on Friday, August 15th. They issued a “hold” rating and a $202.00 price objective on the stock. Wall Street Zen upgraded MYR Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. KeyCorp reaffirmed a “sector weight” rating on shares of MYR Group in a report on Wednesday, October 1st. The Goldman Sachs Group lifted their price objective on MYR Group from $168.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of MYR Group in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $194.50.

MYR Group Profile

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.