Texas Permanent School Fund Buys 330 Shares of MYR Group Inc. (NASDAQ:MYRG)

Texas Permanent School Fund grew its stake in MYR Group Inc. (NASDAQ:MYRGGet Rating) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,290 shares of the utilities provider’s stock after acquiring an additional 330 shares during the period. Texas Permanent School Fund owned 0.07% of MYR Group worth $1,083,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Keybank National Association OH boosted its stake in shares of MYR Group by 23.9% during the second quarter. Keybank National Association OH now owns 3,140 shares of the utilities provider’s stock valued at $277,000 after purchasing an additional 605 shares in the last quarter. Royce & Associates LP boosted its stake in shares of MYR Group by 19.8% during the second quarter. Royce & Associates LP now owns 69,220 shares of the utilities provider’s stock valued at $6,100,000 after purchasing an additional 11,458 shares in the last quarter. Fifth Third Bancorp bought a new position in shares of MYR Group during the second quarter valued at approximately $219,000. GW Henssler & Associates Ltd. bought a new position in shares of MYR Group during the second quarter valued at approximately $217,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of MYR Group by 43.5% during the second quarter. Envestnet Asset Management Inc. now owns 10,984 shares of the utilities provider’s stock valued at $968,000 after purchasing an additional 3,330 shares in the last quarter. 87.57% of the stock is currently owned by institutional investors.

MYR Group Trading Up 1.7 %

NASDAQ MYRG opened at $97.14 on Friday. The company has a fifty day simple moving average of $89.16 and a two-hundred day simple moving average of $89.87. The stock has a market cap of $1.61 billion, a P/E ratio of 20.89 and a beta of 1.05. MYR Group Inc. has a 12-month low of $74.77 and a 12-month high of $121.22. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.16.

Insiders Place Their Bets

In other MYR Group news, COO Tod M. Cooper sold 4,733 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $97.00, for a total value of $459,101.00. Following the completion of the transaction, the chief operating officer now owns 32,052 shares of the company’s stock, valued at $3,109,044. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MYRG. StockNews.com started coverage on shares of MYR Group in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. KeyCorp raised shares of MYR Group from a “sector weight” rating to an “overweight” rating and set a $99.00 target price for the company in a research report on Friday, October 28th. Stifel Nicolaus increased their target price on shares of MYR Group from $101.00 to $110.00 in a research report on Tuesday, August 2nd. Finally, Robert W. Baird raised shares of MYR Group from a “neutral” rating to an “outperform” rating and increased their target price for the company from $92.00 to $95.00 in a research report on Friday, October 28th.

MYR Group Company Profile

(Get Rating)

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, renewable power facilities, and limited gas construction services, as well as emergency restoration services in response to hurricane, ice, or other storm related damages.

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

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