SG Americas Securities LLC Has $2.23 Million Stake in MYR Group, Inc. $MYRG

SG Americas Securities LLC lessened its holdings in shares of MYR Group, Inc. (NASDAQ:MYRG) by 15.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,882 shares of the utilities provider’s stock after selling 1,392 shares during the period. SG Americas Securities LLC owned about 0.05% of MYR Group worth $2,225,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in shares of MYR Group by 212.2% in the fourth quarter. Farther Finance Advisors LLC now owns 153 shares of the utilities provider’s stock valued at $33,000 after buying an additional 104 shares during the period. Acumen Wealth Advisors LLC bought a new position in MYR Group during the 4th quarter worth $35,000. Signaturefd LLC raised its holdings in MYR Group by 65.7% in the 4th quarter. Signaturefd LLC now owns 164 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 65 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in MYR Group by 271.2% in the 4th quarter. Hantz Financial Services Inc. now owns 219 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 160 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of MYR Group during the 4th quarter valued at $66,000. 88.90% of the stock is owned by institutional investors.

MYR Group Price Performance

Shares of NASDAQ MYRG opened at $463.11 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 1.31. The firm’s 50-day simple moving average is $438.33 and its 200 day simple moving average is $323.40. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of 51.06 and a beta of 1.31. MYR Group, Inc. has a fifty-two week low of $171.51 and a fifty-two week high of $503.57.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.09 by $0.90. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $932.45 million. MYR Group had a return on equity of 22.14% and a net margin of 3.71%.The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.45 earnings per share. As a group, research analysts anticipate that MYR Group, Inc. will post 11.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Stifel Nicolaus set a $503.00 price target on MYR Group in a research note on Monday, May 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of MYR Group in a report on Tuesday, April 21st. Oppenheimer restated a “market perform” rating on shares of MYR Group in a research report on Thursday, June 11th. Cantor Fitzgerald upped their price target on shares of MYR Group from $311.00 to $564.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Robert W. Baird set a $373.00 price target on shares of MYR Group in a research report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $358.17.

Insider Buying and Selling at MYR Group

In other MYR Group news, Director Kenneth Michael Hartwick sold 3,500 shares of MYR Group stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $450.50, for a total transaction of $1,576,750.00. Following the transaction, the director directly owned 18,631 shares of the company’s stock, valued at $8,393,265.50. The trade was a 15.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald C.I. Lucky sold 14,675 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $449.53, for a total transaction of $6,596,852.75. Following the completion of the sale, the director owned 5,579 shares of the company’s stock, valued at approximately $2,507,927.87. This represents a 72.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by company insiders.

MYR Group Profile

MYR Group Inc (NASDAQ: MYRG) is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.

Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.