MYR Group Inc. (NASDAQ:MYRG) Shares Sold by Strs Ohio

Strs Ohio lowered its holdings in MYR Group Inc. (NASDAQ:MYRGGet Rating) by 3.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,800 shares of the utilities provider’s stock after selling 300 shares during the period. Strs Ohio owned 0.06% of MYR Group worth $830,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MYRG. Citigroup Inc. grew its position in shares of MYR Group by 1.7% in the first quarter. Citigroup Inc. now owns 24,928 shares of the utilities provider’s stock valued at $2,345,000 after purchasing an additional 420 shares during the period. MetLife Investment Management LLC grew its position in shares of MYR Group by 60.4% in the first quarter. MetLife Investment Management LLC now owns 8,853 shares of the utilities provider’s stock valued at $833,000 after purchasing an additional 3,332 shares during the period. Rhumbline Advisers grew its position in shares of MYR Group by 2.3% in the first quarter. Rhumbline Advisers now owns 42,488 shares of the utilities provider’s stock valued at $3,996,000 after purchasing an additional 941 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of MYR Group by 14.1% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,544 shares of the utilities provider’s stock valued at $1,368,000 after purchasing an additional 1,794 shares during the period. Finally, BlackRock Inc. grew its position in MYR Group by 2.7% during the first quarter. BlackRock Inc. now owns 2,922,873 shares of the utilities provider’s stock valued at $274,868,000 after acquiring an additional 77,662 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com raised MYR Group from a “hold” rating to a “buy” rating in a research report on Thursday, December 1st. Robert W. Baird raised MYR Group from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $92.00 to $95.00 in a research report on Friday, October 28th. Finally, KeyCorp raised MYR Group from a “sector weight” rating to an “overweight” rating and set a $99.00 price target for the company in a research report on Friday, October 28th.

MYR Group Trading Up 0.5 %

Shares of MYRG opened at $100.89 on Monday. The stock’s 50-day moving average is $93.21 and its two-hundred day moving average is $91.52. The stock has a market cap of $1.67 billion, a PE ratio of 21.70 and a beta of 1.04. MYR Group Inc. has a 12 month low of $74.77 and a 12 month high of $102.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.43 and a quick ratio of 1.43.

MYR Group (NASDAQ:MYRGGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The utilities provider reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.10). The company had revenue of $799.85 million for the quarter, compared to analyst estimates of $724.60 million. MYR Group had a return on equity of 14.98% and a net margin of 2.85%. Equities analysts forecast that MYR Group Inc. will post 4.51 earnings per share for the current fiscal year.

About MYR Group

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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, renewable power facilities, and limited gas construction services, as well as emergency restoration services in response to hurricane, ice, or other storm related damages.

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

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