Yousif Capital Management LLC Acquires 404 Shares of MYR Group Inc. (NASDAQ:MYRG)

Yousif Capital Management LLC lifted its stake in MYR Group Inc. (NASDAQ:MYRG) by 4.9% during the 4th quarter, HoldingsChannel reports. The fund owned 8,694 shares of the utilities provider’s stock after buying an additional 404 shares during the period. Yousif Capital Management LLC’s holdings in MYR Group were worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SG Americas Securities LLC bought a new position in shares of MYR Group during the 3rd quarter worth about $894,000. Cambridge Investment Research Advisors Inc. increased its stake in MYR Group by 16.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 2,962 shares of the utilities provider’s stock valued at $399,000 after acquiring an additional 408 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in MYR Group by 13.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,247 shares of the utilities provider’s stock valued at $303,000 after acquiring an additional 268 shares in the last quarter. Bailard Inc. bought a new stake in shares of MYR Group in the 3rd quarter worth approximately $344,000. Finally, Mackenzie Financial Corp grew its holdings in shares of MYR Group by 4.8% during the 3rd quarter. Mackenzie Financial Corp now owns 2,888 shares of the utilities provider’s stock worth $363,000 after purchasing an additional 133 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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

MYR Group Stock Down 5.3 %

Shares of NASDAQ:MYRG opened at $143.92 on Friday. The company’s fifty day moving average is $165.89 and its 200-day moving average is $146.55. 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 Inc. has a 52 week low of $110.87 and a 52 week high of $181.02. The company has a market capitalization of $2.41 billion, a PE ratio of 27.89 and a beta of 1.10.

MYR Group (NASDAQ:MYRG) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. The firm had revenue of $815.56 million for the quarter, compared to analyst estimates of $854.13 million. MYR Group had a net margin of 2.38% and a return on equity of 13.84%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 earnings per share. Equities research analysts predict that MYR Group Inc. will post 6.64 earnings per share for the current fiscal year.

MYR Group Company Profile

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.