BNP Paribas Financial Markets grew its position in MYR Group Inc. (NASDAQ:MYRG – Free Report) by 586.2% during the third quarter, HoldingsChannel.com reports. The firm owned 70,335 shares of the utilities provider’s stock after buying an additional 60,085 shares during the quarter. BNP Paribas Financial Markets’ holdings in MYR Group were worth $7,190,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its stake in MYR Group by 1.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the utilities provider’s stock valued at $1,140,000 after acquiring an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in MYR Group by 0.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 28,000 shares of the utilities provider’s stock worth $3,800,000 after purchasing an additional 160 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in MYR Group by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 11,252 shares of the utilities provider’s stock valued at $1,527,000 after purchasing an additional 193 shares in the last quarter. RiverPark Advisors LLC increased its stake in MYR Group by 21.9% in the 2nd quarter. RiverPark Advisors LLC now owns 1,089 shares of the utilities provider’s stock valued at $148,000 after buying an additional 196 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in MYR Group by 10.4% during the 2nd quarter. TD Asset Management Inc now owns 5,300 shares of the utilities provider’s stock worth $719,000 after buying an additional 500 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.
MYR Group Stock Performance
Shares of NASDAQ:MYRG opened at $158.07 on Tuesday. MYR Group Inc. has a 1 year low of $86.60 and a 1 year high of $181.02. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 69.03 and a beta of 0.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35. The company’s 50 day simple moving average is $127.61 and its 200 day simple moving average is $126.87.
MYR Group (NASDAQ:MYRG – Get Free Report) last issued 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 company had revenue of $888.00 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 EPS. As a group, research analysts predict that MYR Group Inc. will post 1.16 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts recently commented on MYRG shares. The Goldman Sachs Group increased their price target on 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 decreased their target price on shares of MYR Group from $172.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Robert W. Baird upped their price target on shares of MYR Group from $131.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, StockNews.com raised shares of MYR Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, MYR Group presently has a consensus rating of “Moderate Buy” and an average price target of $143.75.
Get Our Latest Stock Analysis on MYR Group
MYR Group Profile
(Free Report)
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.
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