Great West Life Assurance Co. Can increased its stake in shares of MYR Group, Inc. (NASDAQ:MYRG) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,086 shares of the utilities provider’s stock after buying an additional 967 shares during the period. Great West Life Assurance Co. Can owned approximately 0.14% of MYR Group worth $905,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in MYRG. Wexford Capital LP bought a new stake in MYR Group during the fourth quarter valued at $209,000. A.R.T. Advisors LLC bought a new stake in MYR Group during the fourth quarter valued at $350,000. O Shaughnessy Asset Management LLC raised its stake in MYR Group by 6,231.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 12,029 shares of the utilities provider’s stock valued at $453,000 after buying an additional 11,839 shares during the last quarter. Comerica Bank raised its stake in MYR Group by 4.9% in the fourth quarter. Comerica Bank now owns 17,082 shares of the utilities provider’s stock valued at $645,000 after buying an additional 796 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in MYR Group by 47.9% in the first quarter. Nationwide Fund Advisors now owns 50,964 shares of the utilities provider’s stock valued at $2,090,000 after buying an additional 16,495 shares during the last quarter. Institutional investors own 88.74% of the company’s stock.
MYR Group, Inc. (NASDAQ:MYRG) opened at 31.20 on Friday. The company has a market cap of $513.99 million, a P/E ratio of 25.16 and a beta of 0.42. MYR Group, Inc. has a 12 month low of $21.84 and a 12 month high of $43.77. The firm has a 50-day moving average price of $31.77 and a 200 day moving average price of $37.31.
MYR Group (NASDAQ:MYRG) last posted its earnings results on Wednesday, May 3rd. The utilities provider reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.22. MYR Group had a net margin of 1.74% and a return on equity of 8.08%. The business had revenue of $300.13 million during the quarter, compared to analysts’ expectations of $300.97 million. Equities research analysts predict that MYR Group, Inc. will post $1.37 EPS for the current year.
Several analysts recently weighed in on the company. FBR & Co restated an “outperform” rating and set a $37.00 price target (down previously from $45.00) on shares of MYR Group in a report on Tuesday, May 16th. TheStreet lowered MYR Group from a “b-” rating to a “c” rating in a report on Tuesday, May 30th. Zacks Investment Research upgraded MYR Group from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Tuesday, March 14th. Finally, Robert W. Baird upgraded MYR Group from a “neutral” rating to an “outperform” rating and set a $41.00 price target on the stock in a report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. MYR Group currently has an average rating of “Buy” and an average price target of $37.80.
In other MYR Group news, VP Gerald B. Jr. Engen sold 10,000 shares of MYR Group stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $30.00, for a total value of $300,000.00. Following the sale, the vice president now owns 68,295 shares in the company, valued at $2,048,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Patterson sold 3,482 shares of MYR Group stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $30.10, for a total value of $104,808.20. Following the completion of the sale, the director now owns 23,934 shares in the company, valued at approximately $720,413.40. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.
MYR Group Company Profile
MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.
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