Dimensional Fund Advisors LP Sells 26,664 Shares of MYR Group Inc. (NASDAQ:MYRG)

Dimensional Fund Advisors LP lowered its position in shares of MYR Group Inc. (NASDAQ:MYRG – Get Rating) by 2.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,103,678 shares of the utilities provider’s stock after selling 26,664 shares during the quarter. Dimensional Fund Advisors LP owned 0.07% of MYR Group worth $101,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Ronald Blue Trust Inc. grew its position in MYR Group by 6,500.0% during the fourth 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 acquired a new stake in MYR Group during the third quarter worth approximately $39,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in MYR Group during the fourth quarter worth approximately $46,000. Point72 Hong Kong Ltd acquired a new stake in MYR Group during the third quarter worth approximately $49,000. Finally, UBS Group AG grew its position in MYR Group by 696.6% during the third 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. Institutional investors own 85.19% of the company’s stock.

Insider Activity

In other MYR Group news, Director Jennifer Elaine Lowry sold 2,000 shares of MYR Group stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $121.79, for a total transaction of $243,580.00. Following the completion of the transaction, the director now owns 7,919 shares in the company, valued at approximately $964,455.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other MYR Group news, Director Jennifer Elaine Lowry sold 2,000 shares of MYR Group stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $121.79, for a total transaction of $243,580.00. Following the completion of the transaction, the director now owns 7,919 shares in the company, valued at approximately $964,455.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey J. Waneka sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $121.00, for a total value of $1,452,000.00. Following the completion of the transaction, the chief operating officer now owns 30,080 shares in the company, valued at approximately $3,639,680. The disclosure for this sale can be found here. Insiders sold a total of 35,681 shares of company stock worth $4,278,651 in the last three months. Company insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. StockNews.com started coverage on MYR Group in a research report on Thursday. They set a “buy” rating on the stock. Robert W. Baird increased their price target on MYR Group from $137.00 to $147.00 in a research note on Thursday, April 27th.

MYR Group Stock Performance

MYRG stock opened at $134.35 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $125.47 and a 200-day moving average price of $107.82. The firm has a market cap 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.

MYR Group (NASDAQ:MYRG – Get Rating) last issued its earnings results on Wednesday, April 26th. The utilities provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.06 by $0.32. The company had revenue of $811.70 million during the quarter, compared to the consensus estimate 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 last year, the business posted $1.21 EPS. As a group, equities research analysts expect that MYR Group Inc. will post 5.81 earnings per share for the current year.

MYR Group Company 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.