MYR Group Inc. (NASDAQ:MYRG) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in MYR Group Inc. (NASDAQ:MYRG – Get Rating) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 17,028 shares of the utilities provider’s stock after selling 191 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MYR Group were worth $1,568,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Ronald Blue Trust Inc. increased its stake in MYR Group by 6,500.0% during the 4th quarter. Ronald Blue Trust Inc. now owns 396 shares of the utilities provider’s stock worth $34,000 after buying an additional 390 shares in the last quarter. Quantbot Technologies LP purchased a new stake in MYR Group during the 3rd quarter worth approximately $39,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in MYR Group during the 4th quarter worth approximately $46,000. Point72 Hong Kong Ltd purchased a new stake in MYR Group during the 3rd quarter worth approximately $49,000. Finally, UBS Group AG increased its stake in MYR Group by 696.6% during the 3rd quarter. UBS Group AG now owns 1,171 shares of the utilities provider’s stock worth $99,000 after buying an additional 1,024 shares in the last quarter. 85.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MYRG has been the subject of several research reports. StockNews.com initiated coverage on MYR Group in a research note on Thursday. They set a “buy” rating for the company. Robert W. Baird upped their price target on MYR Group from $137.00 to $147.00 in a research report on Thursday, April 27th.

MYR Group Price Performance

MYRG stock opened at $134.35 on Friday. The firm has a market capitalization of $2.24 billion, a PE ratio of 26.45 and a beta of 1.01. MYR Group Inc. has a 1 year low of $76.97 and a 1 year high of $138.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.36 and a quick ratio of 1.36. The business has a 50 day simple moving average of $125.47 and a 200-day simple moving average of $107.70.

MYR Group (NASDAQ:MYRG – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The utilities provider reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.32. The company had revenue of $811.70 million during the quarter, compared to analyst estimates of $721.13 million. MYR Group had a return on equity of 15.58% and a net margin of 2.70%. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. Equities research analysts anticipate that MYR Group Inc. will post 5.81 earnings per share for the current fiscal year.

Insider Transactions at MYR Group

In other news, VP Betty R. Wynn sold 2,787 shares of the firm’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of $119.09, for a total transaction of $331,903.83. Following the completion of the transaction, the vice president now directly owns 36,219 shares in the company, valued at $4,313,320.71. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Betty R. Wynn sold 2,787 shares of the firm’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of $119.09, for a total transaction of $331,903.83. Following the completion of the transaction, the vice president now directly owns 36,219 shares in the company, valued at $4,313,320.71. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jennifer Elaine Lowry sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $121.79, for a total value of $243,580.00. Following the transaction, the director now owns 7,919 shares of the company’s stock, valued at $964,455.01. The disclosure for this sale can be found here. Insiders sold a total of 35,681 shares of company stock worth $4,278,651 over the last ninety days. Company insiders own 3.00% of the company’s stock.

MYR Group Profile

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MYR Group, Inc is a holding company, which engages in the provision of electrical construction services. It operates through the Transmission and Distribution (T&D) and Commercial and Industrial (C&I) segments. The T&D segment offers a range of services on electric transmission and distribution networks and substation facilities.