Quadrature Capital Ltd Sells 11,906 Shares of MYR Group, Inc. $MYRG

Quadrature Capital Ltd reduced its stake in MYR Group, Inc. by 88.6% in Q2, selling 11,906 shares. MYR Group's stock opened at $219.79, with a market cap of $3.41 billion. Analysts have mixed ratings, with a consensus of "Moderate Buy" and a price target of $201.67. COO Don A. Egan sold 2,900 shares, decreasing his ownership by 33.34%. MYR Group reported Q3 earnings of $2.05 per share, beating estimates.

Quadrature Capital Ltd decreased its stake in MYR Group, Inc. (NASDAQ:MYRG - Free Report) by 88.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,529 shares of the utilities provider's stock after selling 11,906 shares during the quarter. Quadrature Capital Ltd's holdings in MYR Group were worth $277,000 as of its most recent filing with the Securities and Exchange Commission.

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Other institutional investors also recently modified their holdings of the company. Maseco LLP acquired a new stake in shares of MYR Group in the 2nd quarter valued at approximately $28,000. Quarry LP grew its holdings in MYR Group by 190.4% during the first quarter. Quarry LP now owns 273 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 179 shares during the period. MAI Capital Management increased its stake in MYR Group by 44.8% in the second quarter. MAI Capital Management now owns 181 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 56 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in MYR Group in the second quarter worth $34,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in MYR Group in the second quarter worth $34,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MYRG has been the subject of several research analyst reports. KeyCorp reissued a "sector weight" rating on shares of MYR Group in a report on Wednesday, October 1st. Zacks Research raised MYR Group from a "hold" rating to a "strong-buy" rating in a research note on Monday. Weiss Ratings restated a "hold (c+)" rating on shares of MYR Group in a report on Monday. Wall Street Zen upgraded MYR Group from a "buy" rating to a "strong-buy" rating in a report on Monday, November 17th. Finally, The Goldman Sachs Group boosted their price objective on MYR Group from $205.00 to $248.00 and gave the company a "neutral" rating in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, MYR Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $201.67.

Read Our Latest Stock Report on MYRG

Insider Activity

In other news, COO Don A. Egan sold 2,900 shares of the business's stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $233.40, for a total value of $676,860.00. Following the sale, the chief operating officer owned 5,797 shares of the company's stock, valued at $1,353,019.80. The trade was a 33.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.

MYR Group Stock Performance

Shares of MYR Group stock opened at $219.79 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 35.51 and a beta of 1.20. The stock's 50-day moving average is $214.46 and its 200-day moving average is $191.45. MYR Group, Inc. has a one year low of $97.72 and a one year high of $241.13.

MYR Group (NASDAQ:MYRG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.23. The business had revenue of $950.40 million during the quarter, compared to the consensus estimate of $931.72 million. MYR Group had a return on equity of 16.65% and a net margin of 2.78%.MYR Group's quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. Equities analysts predict that MYR Group, Inc. will post 1.16 earnings per share for the current fiscal year.

MYR Group Company 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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