Bailard Inc. Acquires 517 Shares of MYR Group Inc. (NASDAQ:MYRG)

Bailard Inc. raised its holdings in MYR Group Inc. (NASDAQ:MYRG) by 20.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,072 shares of the utilities provider’s stock after purchasing an additional 517 shares during the period. Bailard Inc.’s holdings in MYR Group were worth $444,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Daiwa Securities Group Inc. acquired a new position in shares of MYR Group in the 4th quarter valued at $29,000. IFP Advisors Inc bought a new stake in MYR Group in the third quarter valued at about $54,000. GAMMA Investing LLC acquired a new position in MYR Group in the fourth quarter valued at about $62,000. Planned Solutions Inc. bought a new position in MYR Group during the fourth quarter worth about $130,000. Finally, Quantbot Technologies LP grew its position in shares of MYR Group by 446.3% during 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. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analyst Ratings Changes

MYRG has been the topic of a number of analyst reports. KeyCorp assumed coverage on shares of MYR Group in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Stifel Nicolaus cut their target price on shares of MYR Group from $185.00 to $184.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Finally, Sidoti lowered shares of MYR Group from a “buy” rating to a “neutral” rating and set a $165.00 price target for the company. in a report on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $170.75.

MYR Group Price Performance

Shares of MYRG opened at $168.16 on Friday. The stock has a 50 day simple moving average of $165.32 and a 200 day simple moving average of $145.76. MYR Group Inc. has a 52-week low of $110.87 and a 52-week high of $181.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $2.81 billion, a PE ratio of 31.03 and a beta of 1.08.

MYR Group (NASDAQ:MYRG) last released its quarterly earnings results on Wednesday, February 28th. The utilities provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.02. MYR Group had a net margin of 2.50% and a return on equity of 14.80%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $904.76 million. During the same quarter in the prior year, the company earned $1.46 earnings per share. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. Sell-side analysts predict that MYR Group Inc. will post 6.64 EPS for the current fiscal 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.