Intech Investment Management LLC Raises Stock Holdings in MYR Group Inc. (NASDAQ:MYRG)

Intech Investment Management LLC grew its stake in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 153.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,378 shares of the utilities provider's stock after buying an additional 6,284 shares during the period. Intech Investment Management LLC owned 0.06% of MYR Group worth $1,061,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. RiverPark Advisors LLC grew its holdings in MYR Group by 21.9% during the 2nd quarter. RiverPark Advisors LLC now owns 1,089 shares of the utilities provider's stock worth $148,000 after acquiring an additional 196 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of MYR Group during the 3rd quarter valued at about $116,000. Moody National Bank Trust Division acquired a new stake in MYR Group during the second quarter worth approximately $240,000. Quest Partners LLC bought a new stake in MYR Group in the third quarter worth approximately $223,000. Finally, Inspire Investing LLC lifted its stake in MYR Group by 27.9% in the second quarter. Inspire Investing LLC now owns 2,590 shares of the utilities provider's stock valued at $351,000 after buying an additional 565 shares during the period. 88.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on MYRG. Stifel Nicolaus lowered their price objective on shares of MYR Group from $172.00 to $119.00 and set a "buy" rating for the company in a research note on Monday, August 5th. Robert W. Baird lifted their price target on shares of MYR Group from $131.00 to $138.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. The Goldman Sachs Group raised their target price on MYR Group from $124.00 to $153.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Finally, StockNews.com raised MYR Group from a "sell" rating to a "hold" rating in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $143.75.

MYR Group Stock Down 0.6 %

Shares of NASDAQ:MYRG traded down $1.00 during midday trading on Thursday, hitting $157.77. 129,868 shares of the company's stock were exchanged, compared to its average volume of 181,837. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35. MYR Group Inc. has a 12 month low of $86.60 and a 12 month high of $181.02. The company has a market cap of $2.54 billion, a PE ratio of 68.90 and a beta of 0.89. The stock has a 50 day moving average price of $125.38 and a 200-day moving average price of $127.00.

MYR Group (NASDAQ:MYRG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.40. MYR Group had a return on equity of 6.05% and a net margin of 1.08%. The firm had revenue of $888.00 million during the quarter, compared to analyst estimates of $917.18 million. During the same period in the previous year, the company posted $1.28 EPS. The company's revenue for the quarter was down 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that MYR Group Inc. will post 1.16 EPS for the current fiscal year.

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.