MYR Group, Inc. (MYRG) Shares Sold by Thomson Horstmann & Bryant Inc.

Thomson Horstmann & Bryant Inc. lowered its position in MYR Group, Inc. (NASDAQ:MYRG) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 330,190 shares of the utilities provider’s stock after selling 14,167 shares during the quarter. MYR Group comprises approximately 1.3% of Thomson Horstmann & Bryant Inc.’s portfolio, making the stock its 22nd largest holding. Thomson Horstmann & Bryant Inc. owned approximately 2.00% of MYR Group worth $10,176,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in MYR Group by 1.1% in the first quarter. BlackRock Inc. now owns 2,187,795 shares of the utilities provider’s stock valued at $67,428,000 after acquiring an additional 24,503 shares during the last quarter. KBC Group NV increased its stake in MYR Group by 10.2% in the first quarter. KBC Group NV now owns 32,770 shares of the utilities provider’s stock valued at $1,010,000 after acquiring an additional 3,020 shares during the last quarter. Aperio Group LLC increased its stake in MYR Group by 10.8% in the first quarter. Aperio Group LLC now owns 31,467 shares of the utilities provider’s stock valued at $970,000 after acquiring an additional 3,056 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in MYR Group by 15.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 185,817 shares of the utilities provider’s stock valued at $5,727,000 after acquiring an additional 25,289 shares during the last quarter. Finally, Swiss National Bank increased its stake in MYR Group by 5.5% in the first quarter. Swiss National Bank now owns 28,700 shares of the utilities provider’s stock valued at $885,000 after acquiring an additional 1,500 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MYR Group opened at $38.36 on Thursday, MarketBeat reports. The stock has a market cap of $640.59 million, a PE ratio of 47.36 and a beta of 0.48. MYR Group, Inc. has a 1-year low of $23.00 and a 1-year high of $39.69. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.24.

MYR Group (NASDAQ:MYRG) last released its earnings results on Wednesday, May 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.17. The firm had revenue of $345.60 million for the quarter, compared to analyst estimates of $320.64 million. MYR Group had a return on equity of 6.06% and a net margin of 1.77%. MYR Group’s revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. sell-side analysts predict that MYR Group, Inc. will post 1.95 earnings per share for the current year.

In related news, Director William A. Koertner sold 39,601 shares of the stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $35.00, for a total value of $1,386,035.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William A. Koertner sold 10,832 shares of the stock in a transaction on Friday, May 18th. The shares were sold at an average price of $38.69, for a total value of $419,090.08. The disclosure for this sale can be found here. Insiders sold a total of 84,486 shares of company stock valued at $3,052,572 in the last quarter. 4.90% of the stock is currently owned by corporate insiders.

Several analysts have issued reports on MYRG shares. BidaskClub lowered shares of MYR Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 27th. Robert W. Baird set a $40.00 price target on shares of MYR Group and gave the company a “buy” rating in a research report on Wednesday, March 7th. ValuEngine lowered shares of MYR Group from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered shares of MYR Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 15th. Finally, Canaccord Genuity upped their price target on shares of MYR Group from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, March 9th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.83.

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 and the renewable energy industries.

Want to see what other hedge funds are holding MYRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MYR Group, Inc. (NASDAQ:MYRG).

Institutional Ownership by Quarter for MYR Group (NASDAQ:MYRG)

Receive News & Ratings for MYR Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MYR Group and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply