Healthcare of Ontario Pension Plan Trust Fund Has $1.96 Million Stake in MYR Group Inc. (NASDAQ:MYRG)

Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of MYR Group Inc. (NASDAQ:MYRG) by 140.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 19,200 shares of the utilities provider’s stock after buying an additional 11,200 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.12% of MYR Group worth $1,963,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in MYR Group by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider’s stock valued at $44,113,000 after acquiring an additional 15,361 shares in the last quarter. Swedbank AB increased its holdings in MYR Group by 6.0% in the 3rd quarter. Swedbank AB now owns 267,000 shares of the utilities provider’s stock valued at $27,295,000 after buying an additional 15,000 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in MYR Group by 8.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 233,055 shares of the utilities provider’s stock valued at $23,825,000 after buying an additional 17,580 shares during the period. TimesSquare Capital Management LLC raised its stake in shares of MYR Group by 178.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 213,188 shares of the utilities provider’s stock valued at $21,794,000 after buying an additional 136,643 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of MYR Group by 387.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 185,644 shares of the utilities provider’s stock worth $18,978,000 after acquiring an additional 147,598 shares during the period. Institutional investors own 88.90% of the company’s stock.

MYR Group Stock Up 0.1 %

Shares of NASDAQ MYRG opened at $157.90 on Monday. MYR Group Inc. has a 12-month low of $86.60 and a 12-month high of $181.02. The firm’s 50-day simple moving average is $127.61 and its 200 day simple moving average is $127.07. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 68.95 and a beta of 0.89.

MYR Group (NASDAQ:MYRG) last announced its earnings results on Wednesday, October 30th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.40. The company had revenue of $888.00 million for the quarter, compared to analyst estimates of $917.18 million. MYR Group had a net margin of 1.08% and a return on equity of 6.05%. MYR Group’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 earnings per share. On average, research analysts expect that MYR Group Inc. will post 1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of MYR Group from $131.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Stifel Nicolaus dropped their price objective on 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 upgraded shares of MYR Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group increased their target price on shares of MYR Group from $124.00 to $153.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.75.

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.