West Oak Capital LLC Buys 3,165 Shares of MYR Group Inc. (NASDAQ:MYRG)

West Oak Capital LLC boosted its stake in shares of MYR Group Inc. (NASDAQ:MYRG) by 234.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,515 shares of the utilities provider’s stock after purchasing an additional 3,165 shares during the period. West Oak Capital LLC’s holdings in MYR Group were worth $672,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. TD Asset Management Inc raised its stake in shares of MYR Group by 10.4% during the second quarter. TD Asset Management Inc now owns 5,300 shares of the utilities provider’s stock valued at $719,000 after acquiring an additional 500 shares in the last quarter. Choreo LLC bought a new stake in MYR Group during the 2nd quarter valued at $481,000. Texas Permanent School Fund Corp lifted its holdings in shares of MYR Group by 13.5% in the 2nd quarter. Texas Permanent School Fund Corp now owns 16,600 shares of the utilities provider’s stock worth $2,253,000 after buying an additional 1,976 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of MYR Group by 0.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 28,000 shares of the utilities provider’s stock worth $3,800,000 after buying an additional 160 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of MYR Group by 13.3% during the second quarter. Hsbc Holdings PLC now owns 5,113 shares of the utilities provider’s stock valued at $695,000 after buying an additional 601 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MYRG. Stifel Nicolaus upped their price objective on shares of MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. StockNews.com raised shares of MYR Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. The Goldman Sachs Group lifted their price objective 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. Finally, Robert W. Baird upped 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

MYR Group Stock Down 1.8 %

Shares of MYRG stock traded down $2.63 during mid-day trading on Friday, hitting $142.96. 139,564 shares of the stock traded hands, compared to its average volume of 197,627. The stock’s fifty day moving average is $152.65 and its two-hundred day moving average is $128.36. 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 Inc. has a 52-week low of $86.60 and a 52-week high of $181.02. The stock has a market cap of $2.30 billion, a P/E ratio of 62.43 and a beta of 0.96.

MYR Group (NASDAQ:MYRG) last announced its earnings results on Wednesday, October 30th. The utilities provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.40. The company had revenue of $888.00 million during the quarter, compared to the consensus estimate of $917.18 million. MYR Group had a net margin of 1.08% and a return on equity of 6.05%. MYR Group’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm earned $1.28 earnings per share. Equities analysts predict that MYR Group Inc. will post 1.16 EPS for the current 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.