New York State Common Retirement Fund Has $5.62 Million Stake in MYR Group Inc. (NASDAQ:MYRG)

New York State Common Retirement Fund raised its stake in MYR Group Inc. (NASDAQ:MYRGFree Report) by 115.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,830 shares of the utilities provider’s stock after purchasing an additional 20,820 shares during the quarter. New York State Common Retirement Fund owned 0.23% of MYR Group worth $5,616,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Daiwa Securities Group Inc. purchased a new position in MYR Group during the fourth quarter worth about $29,000. Planned Solutions Inc. purchased a new position in shares of MYR Group in the 4th quarter worth approximately $130,000. Quantbot Technologies LP grew its holdings in shares of MYR Group by 446.3% in the third quarter. Quantbot Technologies LP now owns 1,475 shares of the utilities provider’s stock valued at $199,000 after acquiring an additional 1,205 shares in the last quarter. Assetmark Inc. increased its position in shares of MYR Group by 15.2% during the third quarter. Assetmark Inc. now owns 1,689 shares of the utilities provider’s stock valued at $228,000 after acquiring an additional 223 shares during the last quarter. Finally, Horizon Family Wealth Inc. bought a new stake in MYR Group during the third quarter worth $282,000. Institutional investors own 88.90% of the company’s stock.

MYR Group Trading Down 5.3 %

Shares of MYRG opened at $143.92 on Friday. MYR Group Inc. has a fifty-two week low of $110.87 and a fifty-two week high of $181.02. The business has a 50-day moving average of $165.49 and a 200 day moving average of $146.70. The firm has a market cap of $2.41 billion, a P/E ratio of 27.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 1.40.

MYR Group (NASDAQ:MYRGGet Free Report) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.10. The firm had revenue of $815.56 million during the quarter, compared to the consensus estimate of $854.13 million. MYR Group had a net margin of 2.38% and a return on equity of 13.64%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $1.38 earnings per share. As a group, research analysts forecast that MYR Group Inc. will post 6.64 EPS for the current year.

Wall Street Analyst Weigh In

MYRG has been the subject of a number of recent analyst reports. Stifel Nicolaus reduced their price objective on MYR Group from $185.00 to $184.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. Robert W. Baird decreased their price objective on shares of MYR Group from $185.00 to $180.00 and set an “outperform” rating for the company in a report on Thursday. 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. Finally, KeyCorp started coverage on shares of MYR Group in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.25.

View Our Latest Analysis on MYR Group

About MYR Group

(Free Report)

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.

See Also

Institutional Ownership by Quarter for MYR Group (NASDAQ:MYRG)

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