Y Intercept Hong Kong Ltd Has $859,000 Stake in MYR Group Inc. (NASDAQ:MYRG)

Y Intercept Hong Kong Ltd reduced its holdings in MYR Group Inc. (NASDAQ:MYRG) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,406 shares of the utilities provider’s stock after selling 363 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.05% of MYR Group worth $859,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. bought a new stake in shares of MYR Group during the third quarter worth approximately $24,145,000. Assenagon Asset Management S.A. raised its position in shares of MYR Group by 387.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 185,644 shares of the utilities provider’s stock valued at $18,978,000 after acquiring an additional 147,598 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake 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 valued at $21,794,000 after purchasing an additional 136,643 shares during the period. F M Investments LLC bought a new position in shares of MYR Group in the 2nd quarter worth $10,800,000. Finally, Millennium Management LLC grew its stake in shares of MYR Group by 68.9% during the second quarter. Millennium Management LLC now owns 171,329 shares of the utilities provider’s stock worth $23,251,000 after purchasing an additional 69,886 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MYRG has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on MYR Group from $124.00 to $153.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus lifted their price target on shares of MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com upgraded shares of MYR Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Robert W. Baird lifted 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

MYR Group Stock Down 0.5 %

Shares of MYRG stock opened at $167.37 on Friday. MYR Group Inc. has a 12-month low of $86.60 and a 12-month high of $181.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average of $138.79 and a 200-day moving average of $127.76. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 73.09 and a beta of 0.93.

MYR Group (NASDAQ:MYRG) last released its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.40. The firm had revenue of $888.00 million for the quarter, compared to the consensus estimate of $917.18 million. MYR Group had a return on equity of 6.05% and a net margin of 1.08%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the business posted $1.28 EPS. As a group, equities research analysts predict 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.