Fisher Asset Management LLC Sells 4,618 Shares of MYR Group Inc. (NASDAQ:MYRG)

Fisher Asset Management LLC decreased its position in MYR Group Inc. (NASDAQ:MYRG) by 24.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,017 shares of the utilities provider’s stock after selling 4,618 shares during the period. Fisher Asset Management LLC owned about 0.08% of MYR Group worth $2,027,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Daiwa Securities Group Inc. purchased a new position in shares of MYR Group during the 4th quarter valued at $29,000. GAMMA Investing LLC bought a new position in MYR Group during the fourth quarter worth about $62,000. Planned Solutions Inc. purchased a new position in shares of MYR Group in the fourth quarter worth about $130,000. Quantbot Technologies LP boosted its holdings in MYR Group by 446.3% in the 3rd quarter. Quantbot Technologies LP now owns 1,475 shares of the utilities provider’s stock worth $199,000 after buying an additional 1,205 shares during the period. Finally, Assetmark Inc. grew its stake in MYR Group by 15.2% in the 3rd quarter. Assetmark Inc. now owns 1,689 shares of the utilities provider’s stock valued at $228,000 after buying an additional 223 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

MYR Group Price Performance

Shares of NASDAQ:MYRG opened at $155.65 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.61 billion, a PE ratio of 30.16 and a beta of 1.10. The company’s fifty day moving average is $164.65 and its 200 day moving average is $147.17. MYR Group Inc. has a 52 week low of $110.87 and a 52 week high of $181.02.

MYR Group (NASDAQ:MYRG) last released its earnings results on Wednesday, May 1st. The utilities provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.10. MYR Group had a return on equity of 13.64% and a net margin of 2.38%. The company had revenue of $815.56 million during the quarter, compared to analyst estimates of $854.13 million. During the same quarter in the previous year, the company posted $1.38 EPS. MYR Group’s revenue for the quarter was up .5% on a year-over-year basis. Research analysts anticipate that MYR Group Inc. will post 6.64 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on MYRG shares. KeyCorp assumed coverage on MYR Group in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Robert W. Baird lowered their price objective on shares of MYR Group from $185.00 to $180.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Sidoti lowered shares of MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 target price for the company. in a research report on Monday, February 26th. Finally, Stifel Nicolaus lowered their price target on MYR Group from $185.00 to $184.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.25.

MYR Group Profile

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, clean energy projects, and electric vehicle charging infrastructure services, as well as emergency restoration services in response to hurricane, wildfire, ice, or other related damages.