1,165 Shares in MYR Group, Inc. $MYRG Bought by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC purchased a new position in MYR Group, Inc. (NASDAQ:MYRG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,165 shares of the utilities provider’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blair William & Co. IL purchased a new stake in MYR Group in the 2nd quarter worth $486,000. J. Safra Sarasin Holding AG increased its holdings in MYR Group by 55.7% in the 2nd quarter. J. Safra Sarasin Holding AG now owns 27,694 shares of the utilities provider’s stock worth $5,025,000 after acquiring an additional 9,909 shares in the last quarter. HB Wealth Management LLC purchased a new stake in MYR Group in the 2nd quarter worth $224,000. Janney Montgomery Scott LLC increased its holdings in MYR Group by 45.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 3,538 shares of the utilities provider’s stock worth $642,000 after acquiring an additional 1,110 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in MYR Group by 3.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 9,236 shares of the utilities provider’s stock worth $1,675,000 after acquiring an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

MYR Group Trading Up 5.0%

Shares of MYRG opened at $219.63 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.14. MYR Group, Inc. has a 12-month low of $97.72 and a 12-month high of $221.17. The firm has a 50-day moving average price of $192.07 and a 200 day moving average price of $173.72. The firm has a market capitalization of $3.41 billion, a P/E ratio of 45.85 and a beta of 1.19.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.14. MYR Group had a net margin of 2.21% and a return on equity of 13.16%. The firm had revenue of $900.33 million during the quarter, compared to analyst estimates of $828.20 million. During the same quarter in the prior year, the firm posted ($0.91) earnings per share. MYR Group’s quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts forecast that MYR Group, Inc. will post 1.16 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of MYR Group from a “strong-buy” rating to a “buy” rating in a report on Friday, October 3rd. Jefferies Financial Group assumed coverage on shares of MYR Group in a report on Friday, August 15th. They set a “hold” rating and a $202.00 target price for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of MYR Group in a report on Saturday. Stifel Nicolaus upped their target price on shares of MYR Group from $210.00 to $226.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of MYR Group in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $194.50.

MYR Group 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.