Boston Partners Grows Stock Holdings in MYR Group, Inc. $MYRG

Boston Partners lifted its holdings in MYR Group, Inc. (NASDAQ:MYRG - Free Report) by 70.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,839 shares of the utilities provider's stock after acquiring an additional 62,515 shares during the period. Boston Partners owned approximately 0.98% of MYR Group worth $27,553,000 as of its most recent SEC filing.

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Several other hedge funds and other institutional investors have also made changes to their positions in MYRG. Maseco LLP purchased a new stake in MYR Group during the 2nd quarter worth $28,000. Quarry LP raised its position in MYR Group by 190.4% in 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 lifted its stake in shares of MYR Group by 44.8% during the second quarter. MAI Capital Management now owns 181 shares of the utilities provider's stock worth $33,000 after purchasing an additional 56 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of MYR Group in the second quarter worth about $34,000. Finally, UMB Bank n.a. boosted its position in shares of MYR Group by 266.0% in the second quarter. UMB Bank n.a. now owns 194 shares of the utilities provider's stock worth $35,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

MYR Group Stock Up 2.5%

NASDAQ:MYRG opened at $221.65 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 35.81 and a beta of 1.24. MYR Group, Inc. has a one year low of $97.72 and a one year high of $241.13. The stock has a 50-day simple moving average of $211.50 and a 200 day simple moving average of $189.61.

MYR Group (NASDAQ:MYRG - Get Free Report) last released its earnings results on Wednesday, October 29th. The utilities provider reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.23. The company had revenue of $950.40 million for the quarter, compared to the consensus estimate of $931.72 million. MYR Group had a return on equity of 16.94% and a net margin of 2.78%.MYR Group's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. Sell-side analysts predict that MYR Group, Inc. will post 1.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on MYRG. Weiss Ratings reiterated a "hold (c+)" rating on shares of MYR Group in a report on Tuesday. Wall Street Zen upgraded shares of MYR Group from a "buy" rating to a "strong-buy" rating in a research note on Monday, November 17th. KeyCorp reissued a "sector weight" rating on shares of MYR Group in a research report on Wednesday, October 1st. Jefferies Financial Group assumed coverage on shares of MYR Group in a report on Friday, August 15th. They set a "hold" rating and a $202.00 price target for the company. Finally, The Goldman Sachs Group lifted their price target on shares of MYR Group from $205.00 to $248.00 and gave the stock a "neutral" rating in a research note on Friday, November 14th. Two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $201.67.

Check Out Our Latest Stock Analysis on MYR Group

Insider Activity

In other MYR Group news, COO Don A. Egan sold 2,900 shares of MYR Group stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $233.40, for a total value of $676,860.00. Following the completion of the transaction, the chief operating officer directly owned 5,797 shares in the company, 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 legal filing with the SEC, which is available at this link. Insiders own 1.80% of the company's stock.

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.

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