Strs Ohio Sells 300 Shares of MYR Group Inc. (NASDAQ:MYRG)

Strs Ohio lessened its holdings in shares of MYR Group Inc. (NASDAQ:MYRG) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

Several other institutional investors have also modified their holdings of MYRG. Louisiana State Employees Retirement System bought a new stake in MYR Group in the 4th quarter valued at approximately $1,215,000. Planned Solutions Inc. bought a new stake in MYR Group in the 4th quarter valued at approximately $130,000. Assenagon Asset Management S.A. lifted its stake in MYR Group by 85.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 110,119 shares of the utilities provider’s stock valued at $15,927,000 after acquiring an additional 50,848 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in MYR Group by 38.1% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 3,102 shares of the utilities provider’s stock valued at $449,000 after acquiring an additional 855 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in MYR Group by 5.3% in the 3rd quarter. American Century Companies Inc. now owns 228,947 shares of the utilities provider’s stock valued at $30,853,000 after acquiring an additional 11,594 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

MYR Group Stock Up 2.8 %

NASDAQ:MYRG opened at $164.38 on Wednesday. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 30.33 and a beta of 1.08. MYR Group Inc. has a twelve month low of $110.87 and a twelve month high of $181.02. The stock’s 50 day moving average price is $164.69 and its two-hundred day moving average price is $145.11. 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 (NASDAQ:MYRG) last posted its earnings results on Wednesday, February 28th. The utilities provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.02. The business had revenue of $1 billion for the quarter, compared to analyst estimates of $904.76 million. MYR Group had a return on equity of 14.80% and a net margin of 2.50%. The firm’s revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.46 EPS. Equities research analysts expect that MYR Group Inc. will post 6.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on MYRG. KeyCorp began coverage on MYR Group in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Sidoti lowered MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price target on the stock. in a research report on Monday, February 26th. 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 research report on Tuesday, April 16th. Three 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, MYR Group has an average rating of “Hold” and a consensus price target of $170.75.

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.