Daiwa Securities Group Inc. Makes New $29,000 Investment in MYR Group Inc. (NASDAQ:MYRG)

Daiwa Securities Group Inc. bought a new position in shares of MYR Group Inc. (NASDAQ:MYRG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 200 shares of the utilities provider’s stock, valued at approximately $29,000.

Other large investors also recently bought and sold shares of the company. IFP Advisors Inc purchased a new stake in MYR Group during the 3rd quarter worth approximately $54,000. Planned Solutions Inc. purchased a new stake in shares of MYR Group in the 4th quarter valued at $130,000. Quantbot Technologies LP boosted its holdings in shares of MYR Group by 446.3% in the 3rd 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 during the last quarter. Assetmark Inc. boosted its holdings in shares of MYR Group by 15.2% in the 3rd 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, DekaBank Deutsche Girozentrale purchased a new stake in shares of MYR Group in the 3rd quarter valued at $290,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

MYR Group Stock Performance

NASDAQ:MYRG opened at $168.16 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 1.37. The company has a fifty day moving average of $165.32 and a two-hundred day moving average of $145.85. The stock has a market capitalization of $2.81 billion, a PE ratio of 31.03 and a beta of 1.08. MYR Group Inc. has a fifty-two week low of $110.87 and a fifty-two week high of $181.02.

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 analysts’ consensus estimates of $1.41 by $0.02. The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $904.76 million. MYR Group had a net margin of 2.50% and a return on equity of 14.80%. MYR Group’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 earnings per share. As a group, research analysts forecast that MYR Group Inc. will post 6.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on MYRG. Sidoti downgraded shares of MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price objective on the stock. in a report on Monday, February 26th. KeyCorp began coverage on shares of MYR Group in a report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Finally, Stifel Nicolaus lowered their price target on shares of MYR Group from $185.00 to $184.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Three research 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 company presently has an average rating of “Hold” and an average target price 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.