Quadrature Capital Ltd Makes New Investment in MYR Group Inc. (NASDAQ:MYRG)

Quadrature Capital Ltd bought a new position in MYR Group Inc. (NASDAQ:MYRGFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 10,234 shares of the utilities provider’s stock, valued at approximately $1,481,000. Quadrature Capital Ltd owned approximately 0.06% of MYR Group as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MYRG. Daiwa Securities Group Inc. acquired a new position in MYR Group in the 4th quarter worth about $29,000. Quest Partners LLC acquired a new position in MYR Group in the 4th quarter worth about $60,000. GAMMA Investing LLC acquired a new position in MYR Group in the 4th quarter worth about $62,000. Planned Solutions Inc. bought a new stake in shares of MYR Group in the 4th quarter valued at about $130,000. Finally, Assetmark Inc. grew its position in shares of MYR Group by 11.9% in the 4th quarter. Assetmark Inc. now owns 1,890 shares of the utilities provider’s stock valued at $273,000 after buying an additional 201 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

MYR Group Stock Performance

Shares of MYRG opened at $147.75 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 28.63 and a beta of 1.04. The stock has a 50 day moving average of $160.67 and a 200 day moving average of $153.03. MYR Group Inc. has a 12 month low of $110.87 and a 12 month high of $181.02.

MYR Group (NASDAQ:MYRGGet Free Report) last issued 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 company had revenue of $815.56 million during the quarter, compared to the consensus estimate of $854.13 million. MYR Group had a return on equity of 13.64% and a net margin of 2.38%. MYR Group’s revenue was up .5% on a year-over-year basis. During the same period last year, the business posted $1.38 earnings per share. As a group, sell-side analysts forecast that MYR Group Inc. will post 5.5 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on MYRG. 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. Stifel Nicolaus reduced 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. Finally, Robert W. Baird cut their price target on MYR Group from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.25.

Read Our Latest Report on MYRG

About MYR Group

(Free Report)

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.

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

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