Bridge City Capital LLC Acquires 652 Shares of MYR Group Inc. (NASDAQ:MYRG)

Bridge City Capital LLC boosted its holdings in MYR Group Inc. (NASDAQ:MYRG) by 17.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,296 shares of the utilities provider’s stock after acquiring an additional 652 shares during the quarter. Bridge City Capital LLC’s holdings in MYR Group were worth $759,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MYRG. Trexquant Investment LP bought a new position in shares of MYR Group during the 4th quarter valued at $1,017,000. Capital World Investors bought a new position in shares of MYR Group during the 4th quarter valued at $20,781,000. New York State Common Retirement Fund lifted its holdings in shares of MYR Group by 115.6% during the 4th quarter. New York State Common Retirement Fund now owns 38,830 shares of the utilities provider’s stock valued at $5,616,000 after buying an additional 20,820 shares during the period. Trillium Asset Management LLC lifted its holdings in shares of MYR Group by 17.9% during the 4th quarter. Trillium Asset Management LLC now owns 48,479 shares of the utilities provider’s stock valued at $7,012,000 after buying an additional 7,349 shares during the period. Finally, Linden Thomas Advisory Services LLC lifted its holdings in shares of MYR Group by 4.6% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,300 shares of the utilities provider’s stock valued at $1,634,000 after buying an additional 493 shares during the period. 88.90% of the stock is owned by institutional investors.

MYR Group Stock Performance

Shares of NASDAQ:MYRG traded down $0.14 during midday trading on Monday, hitting $139.98. The company had a trading volume of 12,952 shares, compared to its average volume of 128,008. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.40 and a quick ratio of 1.40. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 27.16 and a beta of 1.04. MYR Group Inc. has a 12-month low of $110.87 and a 12-month high of $181.02. The company has a fifty day moving average of $154.44 and a two-hundred day moving average of $154.10.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.10. The business had revenue of $815.56 million during the quarter, compared to the consensus estimate of $854.13 million. MYR Group had a net margin of 2.38% and a return on equity of 13.64%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.38 earnings per share. On average, equities research analysts expect that MYR Group Inc. will post 5.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Robert W. Baird lowered their price target on MYR Group from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Stifel Nicolaus reduced their price objective on MYR Group from $185.00 to $184.00 and set a “buy” rating for the company in a research note on Tuesday, April 16th. Finally, Sidoti lowered MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price objective for the company. in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.25.

MYR Group Company 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.