WINTON GROUP Ltd Sells 2,597 Shares of MYR Group, Inc. $MYRG

WINTON GROUP Ltd cut its stake in MYR Group, Inc. (NASDAQ:MYRG) by 38.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,173 shares of the utilities provider’s stock after selling 2,597 shares during the period. WINTON GROUP Ltd’s holdings in MYR Group were worth $868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in shares of MYR Group by 4.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 79,161 shares of the utilities provider’s stock worth $16,468,000 after purchasing an additional 3,283 shares during the period. First Trust Advisors LP increased its position in shares of MYR Group by 8.3% during the third quarter. First Trust Advisors LP now owns 99,345 shares of the utilities provider’s stock worth $20,667,000 after buying an additional 7,591 shares during the period. Teton Advisors LLC bought a new position in MYR Group during the third quarter worth $1,248,000. Fisher Asset Management LLC lifted its holdings in MYR Group by 0.9% in the third quarter. Fisher Asset Management LLC now owns 450,402 shares of the utilities provider’s stock valued at $93,697,000 after buying an additional 4,203 shares during the period. Finally, Neumeier Poma Investment Counsel LLC raised its position in shares of MYR Group by 67.8% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 198,401 shares of the utilities provider’s stock worth $41,273,000 after acquiring an additional 80,168 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MYRG. The Goldman Sachs Group upped their target price on MYR Group from $248.00 to $296.00 and gave the company a “neutral” rating in a research report on Tuesday, March 3rd. Clear Str raised MYR Group to a “strong-buy” rating in a research note on Monday, December 15th. Cantor Fitzgerald increased their price target on MYR Group from $285.00 to $311.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Wall Street Zen raised shares of MYR Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 21st. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.43.

MYR Group Stock Up 0.7%

NASDAQ:MYRG traded up $1.80 on Friday, hitting $259.50. The stock had a trading volume of 76,047 shares, compared to its average volume of 246,128. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.08. MYR Group, Inc. has a 52 week low of $97.72 and a 52 week high of $290.87. The business’s fifty day moving average is $256.95 and its 200 day moving average is $225.37. The company has a market cap of $4.03 billion, a PE ratio of 34.63 and a beta of 1.15.

MYR Group (NASDAQ:MYRG) last issued 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 for the quarter, compared to analysts’ expectations of $897.73 million. MYR Group had a return on equity of 19.66% and a net margin of 3.24%.MYR Group’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business earned $0.99 EPS. On average, equities research analysts expect that MYR Group, Inc. will post 1.16 EPS for the current fiscal year.

MYR Group 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.