MYR Group Inc. (NASDAQ:MYRG) Stock Position Raised by Tidal Investments LLC

Tidal Investments LLC grew its position in shares of MYR Group Inc. (NASDAQ:MYRG) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,286 shares of the utilities provider’s stock after buying an additional 83 shares during the quarter. Tidal Investments LLC’s holdings in MYR Group were worth $438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System grew its position in MYR Group by 1.2% in the second quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the utilities provider’s stock worth $1,140,000 after acquiring an additional 100 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of MYR Group by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 128,297 shares of the utilities provider’s stock valued at $17,411,000 after purchasing an additional 5,287 shares during the last quarter. F M Investments LLC bought a new stake in MYR Group in the second quarter worth $10,800,000. Peregrine Capital Management LLC increased its position in MYR Group by 1.3% during the second quarter. Peregrine Capital Management LLC now owns 64,911 shares of the utilities provider’s stock worth $8,809,000 after buying an additional 844 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in MYR Group by 10.4% during the second quarter. TD Asset Management Inc now owns 5,300 shares of the utilities provider’s stock valued at $719,000 after buying an additional 500 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on MYRG. Robert W. Baird upped their price target on MYR Group from $131.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their target price on MYR Group from $124.00 to $153.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Stifel Nicolaus boosted their price objective on shares of MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, StockNews.com raised shares of MYR Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.00.

MYR Group Stock Down 2.2 %

Shares of MYRG stock opened at $149.91 on Tuesday. MYR Group Inc. has a 12 month low of $86.60 and a 12 month high of $181.02. The stock has a 50 day moving average of $145.06 and a 200-day moving average of $127.55. The firm has a market cap of $2.42 billion, a PE ratio of 65.46 and a beta of 0.93. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15.

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

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.