MYR Group Inc. (NASDAQ:MYRG) Shares Sold by Duality Advisers LP

Duality Advisers LP reduced its position in shares of MYR Group Inc. (NASDAQ:MYRG) by 30.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,830 shares of the utilities provider’s stock after selling 1,255 shares during the quarter. Duality Advisers LP’s holdings in MYR Group were worth $409,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Daiwa Securities Group Inc. acquired a new stake in shares of MYR Group during the 4th quarter valued at approximately $29,000. IFP Advisors Inc acquired a new stake in MYR Group in the third quarter worth $54,000. Planned Solutions Inc. acquired a new stake in MYR Group in the fourth quarter worth $130,000. Quantbot Technologies LP increased its position in MYR Group by 446.3% in the third 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. Finally, Assetmark Inc. increased its position in MYR Group by 15.2% in the third 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. 88.90% of the stock is owned by institutional investors and hedge funds.

MYR Group Trading Up 0.9 %

NASDAQ:MYRG opened at $166.06 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.05. MYR Group Inc. has a 1-year low of $110.87 and a 1-year high of $181.02. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 30.64 and a beta of 1.08. The stock has a fifty day simple moving average of $164.88 and a 200 day simple moving average of $145.25.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MYRG shares. Sidoti lowered MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 target price on the stock. in a research report on Monday, February 26th. KeyCorp assumed coverage on MYR Group in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Finally, Stifel Nicolaus lowered their price target on MYR Group from $185.00 to $184.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $170.75.

MYR Group Company 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.