Moody Aldrich Partners LLC Purchases New Position in MYR Group Inc. (NASDAQ:MYRG)

Moody Aldrich Partners LLC acquired a new stake in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 26,565 shares of the utilities provider's stock, valued at approximately $3,952,000. Moody Aldrich Partners LLC owned about 0.16% of MYR Group as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidal Investments LLC raised its stake in MYR Group by 2.0% in the 3rd quarter. Tidal Investments LLC now owns 4,286 shares of the utilities provider's stock valued at $438,000 after purchasing an additional 83 shares during the last quarter. GAMMA Investing LLC raised its position in shares of MYR Group by 27.0% in the fourth quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider's stock valued at $83,000 after buying an additional 118 shares during the last quarter. MCF Advisors LLC lifted its stake in shares of MYR Group by 470.0% in the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider's stock worth $25,000 after buying an additional 141 shares in the last quarter. KBC Group NV grew its stake in MYR Group by 56.8% during the 4th quarter. KBC Group NV now owns 737 shares of the utilities provider's stock valued at $110,000 after acquiring an additional 267 shares in the last quarter. Finally, Sheets Smith Wealth Management raised its holdings in MYR Group by 3.4% in the 4th quarter. Sheets Smith Wealth Management now owns 8,789 shares of the utilities provider's stock valued at $1,308,000 after acquiring an additional 290 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

MYR Group Trading Up 2.2 %

Shares of MYRG stock traded up $3.04 on Wednesday, hitting $142.36. The stock had a trading volume of 38,035 shares, compared to its average volume of 195,874. The company's 50 day moving average price is $153.41 and its 200-day moving average price is $129.22. 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 1 year low of $86.60 and a 1 year high of $181.02. The firm has a market capitalization of $2.29 billion, a P/E ratio of 62.17 and a beta of 0.96.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Robert W. Baird boosted their target price on MYR Group from $131.00 to $138.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. Stifel Nicolaus upped their target price on MYR Group from $153.00 to $172.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. The Goldman Sachs Group boosted their price target 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. Finally, StockNews.com upgraded shares of MYR Group from a "sell" rating to a "hold" rating in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $157.00.

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.