Strs Ohio Has $969,000 Holdings in MYR Group Inc. (NASDAQ:MYRG)

Strs Ohio lessened its stake in shares of MYR Group Inc. (NASDAQ:MYRG) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,700 shares of the utilities provider’s stock after selling 300 shares during the period. Strs Ohio’s holdings in MYR Group were worth $969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MYRG. IFP Advisors Inc acquired a new stake in MYR Group during the 3rd quarter worth about $54,000. Planned Solutions Inc. acquired a new stake in MYR Group during the 4th quarter worth about $130,000. Quantbot Technologies LP raised its holdings in MYR Group by 446.3% during the 3rd quarter. Quantbot Technologies LP now owns 1,475 shares of the utilities provider’s stock worth $199,000 after buying an additional 1,205 shares during the period. Assetmark Inc. raised its holdings in MYR Group by 15.2% during the 3rd quarter. Assetmark Inc. now owns 1,689 shares of the utilities provider’s stock worth $228,000 after buying an additional 223 shares during the period. Finally, Horizon Family Wealth Inc. purchased a new position in MYR Group during the 3rd quarter valued at about $282,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analyst Ratings Changes

MYRG has been the topic of several research analyst reports. KeyCorp initiated coverage on MYR Group in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. Stifel Nicolaus lowered their target price on MYR Group from $185.00 to $184.00 and set a “buy” rating on the stock in a research note on Tuesday, April 16th. Finally, Sidoti cut 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $170.75.

MYR Group Trading Up 2.8 %

Shares of NASDAQ MYRG opened at $164.38 on Wednesday. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 30.33 and a beta of 1.08. The business has a 50 day simple moving average of $164.69 and a 200 day simple moving average of $145.11. MYR Group Inc. has a 52 week low of $110.87 and a 52 week high of $181.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 1.37.

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

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.