15,976 Shares in MYR Group Inc. (NASDAQ:MYRG) Acquired by Marshall Wace LLP

Marshall Wace LLP purchased a new stake in MYR Group Inc. (NASDAQ:MYRG) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,976 shares of the utilities provider’s stock, valued at approximately $2,168,000. Marshall Wace LLP owned 0.10% of MYR Group as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of MYRG. Fidelis Capital Partners LLC bought a new stake in MYR Group in the first quarter valued at approximately $48,000. GAMMA Investing LLC increased its position in shares of MYR Group by 37.8% during the first quarter. GAMMA Investing LLC now owns 598 shares of the utilities provider’s stock worth $106,000 after buying an additional 164 shares during the period. Covestor Ltd raised its stake in MYR Group by 23.7% during the first quarter. Covestor Ltd now owns 689 shares of the utilities provider’s stock worth $122,000 after buying an additional 132 shares during the last quarter. RiverPark Advisors LLC lifted its holdings in MYR Group by 21.9% in the second 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 period. Finally, EntryPoint Capital LLC bought a new stake in MYR Group during the first quarter valued at $186,000. Institutional investors own 88.90% of the company’s stock.

MYR Group Stock Up 1.2 %

Shares of NASDAQ:MYRG opened at $104.23 on Friday. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 20.01 and a beta of 0.93. The business’s 50 day moving average is $103.05 and its 200 day moving average is $136.37. 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 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06.

MYR Group (NASDAQ:MYRG) last posted its earnings results on Wednesday, July 31st. The utilities provider reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($1.98). MYR Group had a return on equity of 7.65% and a net margin of 1.37%. The firm had revenue of $828.89 million during the quarter, compared to the consensus estimate of $876.07 million. During the same quarter in the previous year, the company earned $1.33 EPS. The business’s revenue was down 6.7% compared to the same quarter last year. On average, sell-side analysts forecast that MYR Group Inc. will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MYRG shares. StockNews.com lowered MYR Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 18th. The Goldman Sachs Group reduced their price objective on shares of MYR Group from $182.00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Robert W. Baird dropped their target price on shares of MYR Group from $170.00 to $143.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Finally, Stifel Nicolaus reduced their price target on shares of MYR Group from $172.00 to $119.00 and set a “buy” rating for the company in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $137.75.

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.