4,094 Shares in MYR Group Inc. (NASDAQ:MYRG) Purchased by Intech Investment Management LLC

Intech Investment Management LLC acquired a new stake in MYR Group Inc. (NASDAQ:MYRG) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 4,094 shares of the utilities provider’s stock, valued at approximately $556,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. UniSuper Management Pty Ltd purchased a new position in shares of MYR Group during the 1st quarter worth approximately $645,000. Trexquant Investment LP purchased a new position in MYR Group during the fourth quarter worth $1,017,000. Trillium Asset Management LLC raised its holdings in shares of MYR Group by 60.3% in the first quarter. Trillium Asset Management LLC now owns 77,694 shares of the utilities provider’s stock worth $13,733,000 after acquiring an additional 29,215 shares during the last quarter. Capital World Investors purchased a new stake in shares of MYR Group in the fourth quarter valued at $20,781,000. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of MYR Group during the first quarter valued at $1,359,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

MYR Group Trading Up 3.2 %

NASDAQ MYRG opened at $101.72 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.36 and a current ratio of 1.36. MYR Group Inc. has a one year low of $86.60 and a one year high of $181.02. The company’s 50 day moving average price is $107.13 and its 200 day moving average price is $138.22. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 19.71 and a beta of 0.93.

MYR Group (NASDAQ:MYRG) last issued its earnings results on Wednesday, July 31st. The utilities provider reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($1.98). MYR Group had a net margin of 1.37% and a return on equity of 7.65%. The business had revenue of $828.89 million during the quarter, compared to analysts’ expectations of $876.07 million. During the same period in the prior year, the business posted $1.33 EPS. The business’s revenue was down 6.7% on a year-over-year basis. On average, sell-side analysts predict that MYR Group Inc. will post 0.91 EPS for the current year.

Analyst Ratings Changes

MYRG has been the subject of several analyst reports. Stifel Nicolaus cut their target price on shares of MYR Group from $172.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, August 5th. StockNews.com downgraded shares of MYR Group from a “hold” rating to a “sell” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group lowered their target price on shares of MYR Group from $182.00 to $124.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Finally, Robert W. Baird reduced their price target on MYR Group from $170.00 to $143.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $137.75.

About MYR Group

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.