Teton Advisors LLC Makes New $1.25 Million Investment in MYR Group, Inc. $MYRG

Teton Advisors LLC acquired a new position in shares of MYR Group, Inc. (NASDAQ:MYRG) during the third quarter, HoldingsChannel reports. The firm acquired 6,000 shares of the utilities provider’s stock, valued at approximately $1,248,000.

Several other large investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC boosted its holdings in shares of MYR Group by 12.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 418 shares of the utilities provider’s stock valued at $86,000 after buying an additional 47 shares during the last quarter. Bank of Montreal Can increased its holdings in MYR Group by 1.4% during the second quarter. Bank of Montreal Can now owns 4,087 shares of the utilities provider’s stock worth $742,000 after buying an additional 56 shares during the last quarter. MAI Capital Management raised its position in MYR Group by 44.8% during the second quarter. MAI Capital Management now owns 181 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 56 shares in the last quarter. Inspire Investing LLC raised its position in MYR Group by 2.6% during the third quarter. Inspire Investing LLC now owns 2,198 shares of the utilities provider’s stock worth $457,000 after acquiring an additional 56 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in MYR Group by 4.8% in the second quarter. PNC Financial Services Group Inc. now owns 1,641 shares of the utilities provider’s stock valued at $298,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

MYR Group Price Performance

NASDAQ:MYRG opened at $260.90 on Friday. The company has a market cap of $4.05 billion, a P/E ratio of 34.65 and a beta of 1.15. The firm’s fifty day moving average price is $253.29 and its two-hundred day moving average price is $223.08. MYR Group, Inc. has a one year low of $97.72 and a one year high of $290.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.33 and a quick ratio of 1.33.

MYR Group (NASDAQ:MYRG) last posted its earnings results on Wednesday, February 25th. The utilities provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.60. The company had revenue of $973.54 million during the quarter, compared to analysts’ expectations of $897.73 million. MYR Group had a net margin of 3.24% and a return on equity of 19.66%. MYR Group’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 EPS. Equities analysts expect that MYR Group, Inc. will post 1.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price objective on shares of MYR Group from $248.00 to $296.00 and gave the company a “neutral” rating in a research report on Tuesday. Clear Str raised shares of MYR Group to a “strong-buy” rating in a report on Monday, December 15th. Weiss Ratings upgraded shares of MYR Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 22nd. Stifel Nicolaus lifted their price target on MYR Group from $262.00 to $305.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wall Street Zen upgraded MYR Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 21st. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, MYR Group presently has an average rating of “Moderate Buy” and an average price target of $235.43.

MYR Group Company Profile

MYR Group Inc (NASDAQ: MYRG) is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.

Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.