GSA Capital Partners LLP Has $2.01 Million Position in MYR Group Inc. (NASDAQ:MYRG)

GSA Capital Partners LLP raised its stake in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 181.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 19,661 shares of the utilities provider's stock after purchasing an additional 12,667 shares during the period. GSA Capital Partners LLP owned 0.12% of MYR Group worth $2,010,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Capital World Investors boosted its holdings in shares of MYR Group by 578.4% in the 1st quarter. Capital World Investors now owns 974,748 shares of the utilities provider's stock valued at $172,287,000 after buying an additional 831,066 shares during the period. Principal Financial Group Inc. grew its holdings in shares of MYR Group by 3.7% during the third quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider's stock valued at $44,113,000 after purchasing an additional 15,361 shares during the last quarter. Swedbank AB acquired a new stake in shares of MYR Group during the 1st quarter worth approximately $51,452,000. TimesSquare Capital Management LLC lifted its holdings in shares of MYR Group by 178.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 213,188 shares of the utilities provider's stock worth $21,794,000 after purchasing an additional 136,643 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in MYR Group by 387.9% in the third quarter. Assenagon Asset Management S.A. now owns 185,644 shares of the utilities provider's stock worth $18,978,000 after buying an additional 147,598 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

MYR Group Stock Performance

MYR Group stock traded up $0.27 during mid-day trading on Wednesday, hitting $148.57. 198,310 shares of the company's stock traded hands, compared to its average volume of 180,770. MYR Group Inc. has a fifty-two week low of $86.60 and a fifty-two week high of $181.02. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 65.79 and a beta of 0.89. The firm has a 50 day simple moving average of $113.01 and a two-hundred day simple moving average of $127.36. 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 (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, beating 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 for the quarter, compared to analyst estimates of $917.18 million. During the same period in the prior year, the firm posted $1.28 EPS. The company's revenue for the quarter was down 5.5% on a year-over-year basis. On average, research analysts expect that MYR Group Inc. will post 1.16 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. StockNews.com upgraded shares of MYR Group from a "sell" rating to a "hold" rating in a research note on Monday, November 4th. Robert W. Baird boosted their price objective on MYR Group from $131.00 to $138.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Stifel Nicolaus decreased their target price on MYR Group from $172.00 to $119.00 and set a "buy" rating for the company in a research note on Monday, August 5th. Finally, The Goldman Sachs Group upped their price target on shares of MYR Group from $124.00 to $153.00 and gave the company a "buy" rating in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $143.75.

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.