Universal Beteiligungs und Servicegesellschaft mbH Buys 20,804 Shares of MYR Group, Inc. $MYRG

Universal Beteiligungs und Servicegesellschaft mbH grew its position in MYR Group, Inc. (NASDAQ:MYRG) by 138.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 35,779 shares of the utilities provider’s stock after acquiring an additional 20,804 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.23% of MYR Group worth $7,443,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fisher Asset Management LLC raised its position in MYR Group by 12.7% in the second quarter. Fisher Asset Management LLC now owns 446,199 shares of the utilities provider’s stock valued at $80,963,000 after purchasing an additional 50,148 shares during the last quarter. Bank of New York Mellon Corp boosted its position in MYR Group by 97.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 350,478 shares of the utilities provider’s stock worth $63,594,000 after buying an additional 172,962 shares during the period. Goldman Sachs Group Inc. grew its holdings in MYR Group by 0.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 203,356 shares of the utilities provider’s stock worth $22,998,000 after acquiring an additional 1,437 shares during the last quarter. Bank of America Corp DE grew its holdings in MYR Group by 13.3% during the 2nd quarter. Bank of America Corp DE now owns 180,522 shares of the utilities provider’s stock worth $32,756,000 after acquiring an additional 21,236 shares during the last quarter. Finally, Next Century Growth Investors LLC increased its position in MYR Group by 1.6% in the 2nd quarter. Next Century Growth Investors LLC now owns 157,043 shares of the utilities provider’s stock valued at $28,495,000 after acquiring an additional 2,533 shares during the period. Institutional investors own 88.90% of the company’s stock.

MYR Group Stock Down 2.2%

Shares of MYR Group stock opened at $244.60 on Monday. The firm has a market cap of $3.80 billion, a price-to-earnings ratio of 39.52 and a beta of 1.18. The stock’s 50-day moving average is $226.49 and its 200 day moving average is $207.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.33 and a quick ratio of 1.33. MYR Group, Inc. has a one year low of $97.72 and a one year high of $263.48.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.23. The firm had revenue of $950.40 million for the quarter, compared to analyst estimates of $931.72 million. MYR Group had a return on equity of 16.65% and a net margin of 2.78%.The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 earnings per share. Equities research analysts anticipate that MYR Group, Inc. will post 1.16 EPS for the current year.

Wall Street Analyst Weigh In

MYRG has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target 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. Clear Str upgraded MYR Group to a “strong-buy” rating in a research report on Monday, December 15th. Cantor Fitzgerald began coverage on MYR Group in a research report on Friday. They set an “overweight” rating and a $285.00 price objective for the company. Weiss Ratings upgraded MYR Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Finally, KeyCorp reissued a “sector weight” rating on shares of MYR Group in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, MYR Group presently has an average rating of “Moderate Buy” and a consensus price target of $213.57.

Insider Transactions at MYR Group

In other MYR Group news, COO Don A. Egan sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $233.40, for a total value of $676,860.00. Following the completion of the sale, the chief operating officer directly owned 5,797 shares in the company, valued at approximately $1,353,019.80. This trade represents a 33.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

About MYR Group

MYR Group Inc (NASDAQ: MYRG) is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.

Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.