SG Americas Securities LLC Has $2.03 Million Stake in MYR Group, Inc. $MYRG

SG Americas Securities LLC raised its stake in MYR Group, Inc. (NASDAQ:MYRG) by 27.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,274 shares of the utilities provider’s stock after acquiring an additional 1,986 shares during the quarter. SG Americas Securities LLC owned approximately 0.06% of MYR Group worth $2,026,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWA Asset Management Group LLC bought a new stake in shares of MYR Group during the third quarter worth $1,506,000. Vanguard Group Inc. lifted its stake in shares of MYR Group by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,225,288 shares of the utilities provider’s stock valued at $254,897,000 after acquiring an additional 157,157 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of MYR Group by 0.9% during the 3rd quarter. Fisher Asset Management LLC now owns 450,402 shares of the utilities provider’s stock valued at $93,697,000 after acquiring an additional 4,203 shares in the last quarter. Edgestream Partners L.P. bought a new stake in MYR Group during the 2nd quarter worth $1,557,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in MYR Group by 557.5% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 23,952 shares of the utilities provider’s stock worth $4,983,000 after purchasing an additional 20,309 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wall Street Zen upgraded MYR Group from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 21st. Weiss Ratings upgraded shares of MYR Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, January 22nd. Zacks Research upgraded shares of MYR Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Clear Str upgraded shares of MYR Group to a “strong-buy” rating in a research report on Monday, December 15th. Finally, The Goldman Sachs Group lifted their price target on shares of MYR Group from $248.00 to $296.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $235.43.

MYR Group Stock Performance

Shares of MYRG stock opened at $285.68 on Friday. The stock has a market capitalization of $4.44 billion, a PE ratio of 37.94 and a beta of 1.07. The business’s 50 day simple moving average is $268.61 and its 200 day simple moving average is $236.03. The company has a debt-to-equity ratio of 0.08, 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 $296.94.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings results on Wednesday, February 25th. The utilities provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.60. MYR Group had a net margin of 3.24% and a return on equity of 19.66%. The firm had revenue of $973.54 million for the quarter, compared to the consensus estimate of $897.73 million. During the same quarter in the previous year, the company earned $0.99 EPS. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, research analysts forecast that MYR Group, Inc. will post 1.16 earnings per share for the current year.

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.