Healthcare of Ontario Pension Plan Trust Fund Has $1.96 Million Stock Position in MYR Group Inc. (NASDAQ:MYRG)

Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of MYR Group Inc. (NASDAQ:MYRG) by 140.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,200 shares of the utilities provider’s stock after purchasing an additional 11,200 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in MYR Group were worth $1,963,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale bought a new stake in MYR Group in the third quarter valued at approximately $116,000. RiverPark Advisors LLC raised its stake in MYR Group by 21.9% during the 2nd quarter. RiverPark Advisors LLC now owns 1,089 shares of the utilities provider’s stock worth $148,000 after buying an additional 196 shares during the period. Quest Partners LLC bought a new position in MYR Group during the third quarter worth about $223,000. FMR LLC grew its stake in MYR Group by 90.2% in the third quarter. FMR LLC now owns 2,336 shares of the utilities provider’s stock valued at $239,000 after acquiring an additional 1,108 shares during the period. Finally, Moody National Bank Trust Division bought a new stake in shares of MYR Group in the second quarter worth about $240,000. Institutional investors own 88.90% of the company’s stock.

MYR Group Stock Performance

Shares of MYRG stock opened at $157.90 on Monday. The firm has a market cap of $2.55 billion, a PE ratio of 68.95 and a beta of 0.89. MYR Group Inc. has a 12 month low of $86.60 and a 12 month high of $181.02. The company’s fifty day simple moving average is $127.61 and its 200-day simple moving average is $127.07. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings data on Wednesday, October 30th. The utilities provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates 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%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 EPS. Equities research analysts expect that MYR Group Inc. will post 1.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MYRG. The Goldman Sachs Group lifted their price objective on MYR Group from $124.00 to $153.00 and gave the company a “buy” rating in a report on Monday, November 4th. Robert W. Baird upped their price target on shares of MYR Group from $131.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. StockNews.com raised shares of MYR Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Stifel Nicolaus reduced 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. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, MYR Group presently has an average rating of “Moderate Buy” and a consensus price target of $143.75.

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.