MYR Group Inc. (NASDAQ:MYRG) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lessened its holdings in shares of MYR Group Inc. (NASDAQ:MYRG) by 3.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,112 shares of the utilities provider’s stock after selling 230 shares during the quarter. Nisa Investment Advisors LLC’s holdings in MYR Group were worth $1,029,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MYRG. Point72 Middle East FZE purchased a new stake in MYR Group during the fourth quarter worth approximately $27,000. Advisory Services Network LLC lifted its holdings in shares of MYR Group by 585.0% during the 1st quarter. Advisory Services Network LLC now owns 274 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 234 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in MYR Group by 24.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 382 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 74 shares during the period. IFP Advisors Inc acquired a new stake in MYR Group in the 3rd quarter valued at $54,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in MYR Group by 29.6% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 605 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

MYR Group Stock Performance

Shares of MYR Group stock opened at $166.71 on Tuesday. The firm has a market cap of $2.79 billion, a PE ratio of 30.76 and a beta of 1.08. MYR Group Inc. has a 1 year low of $110.87 and a 1 year high of $181.02. The firm’s 50-day simple moving average is $163.75 and its 200-day simple moving average is $143.75. 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 data on Wednesday, February 28th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.02. The firm had revenue of $1 billion for 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%. MYR Group’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Equities analysts forecast that MYR Group Inc. will post 6.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on MYRG. Stifel Nicolaus boosted their price objective on MYR Group from $168.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Sidoti downgraded shares of MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 target price for the company. in a research note on Monday, February 26th. Finally, KeyCorp began coverage on shares of MYR Group in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $171.00.

About MYR Group

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.