MYR Group Inc. (NASDAQ:MYRG) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lowered its stake in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 22.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 21,029 shares of the utilities provider's stock after selling 6,014 shares during the period. Jane Street Group LLC owned 0.13% of MYR Group worth $2,150,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quadrature Capital Ltd grew its stake in MYR Group by 41.0% in the third quarter. Quadrature Capital Ltd now owns 5,564 shares of the utilities provider's stock worth $569,000 after purchasing an additional 1,618 shares in the last quarter. Millburn Ridgefield Corp acquired a new position in shares of MYR Group in the 3rd quarter worth approximately $130,000. Needham Investment Management LLC bought a new stake in shares of MYR Group in the 3rd quarter valued at approximately $2,556,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of MYR Group in the 3rd quarter valued at approximately $24,145,000. Finally, Janus Henderson Group PLC raised its position in shares of MYR Group by 2.2% during the 3rd quarter. Janus Henderson Group PLC now owns 28,746 shares of the utilities provider's stock valued at $2,938,000 after acquiring an additional 632 shares in the last quarter. Institutional investors own 88.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on MYRG shares. Robert W. Baird lifted their price objective on shares of MYR Group from $131.00 to $138.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on shares of MYR Group from $124.00 to $153.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Stifel Nicolaus raised their target price on shares of MYR Group from $153.00 to $172.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Finally, StockNews.com raised MYR Group from a "sell" rating to a "hold" rating in a report on Monday, November 4th. Three equities research 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, MYR Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.00.

MYR Group Stock Performance

NASDAQ:MYRG traded up $2.39 during mid-day trading on Tuesday, hitting $152.30. The stock had a trading volume of 77,579 shares, compared to its average volume of 180,979. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. The company has a 50 day simple moving average of $145.06 and a 200-day simple moving average of $127.55. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 66.51 and a beta of 0.93. MYR Group Inc. has a 52 week low of $86.60 and a 52 week high of $181.02.

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