Arrowstreet Capital Limited Partnership reduced its position in MYR Group Inc (NASDAQ:MYRG) by 24.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,575 shares of the utilities provider’s stock after selling 4,811 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in MYR Group were worth $521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in MYRG. Teacher Retirement System of Texas purchased a new stake in MYR Group in the fourth quarter worth $201,000. Crossmark Global Holdings Inc. purchased a new stake in MYR Group in the third quarter worth $207,000. Municipal Employees Retirement System of Michigan increased its position in MYR Group by 40.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,020 shares of the utilities provider’s stock worth $234,000 after buying an additional 2,290 shares during the last quarter. Sei Investments Co. increased its position in MYR Group by 50.9% in the third quarter. Sei Investments Co. now owns 8,229 shares of the utilities provider’s stock worth $240,000 after buying an additional 2,774 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in MYR Group by 56.7% in the third quarter. BNP Paribas Arbitrage SA now owns 8,501 shares of the utilities provider’s stock worth $248,000 after buying an additional 3,077 shares during the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.

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MYR Group Inc (NASDAQ:MYRG) opened at $36.45 on Wednesday. MYR Group Inc has a twelve month low of $23.00 and a twelve month high of $43.49. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 2.01. The company has a market capitalization of $592.37, a price-to-earnings ratio of 45.00 and a beta of 0.45.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings results on Wednesday, March 7th. The utilities provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. MYR Group had a return on equity of 4.90% and a net margin of 1.51%. The firm had revenue of $373.50 million during the quarter, compared to analyst estimates of $373.85 million. During the same period last year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. research analysts anticipate that MYR Group Inc will post 1.79 EPS for the current fiscal year.

MYRG has been the subject of a number of recent research reports. B. Riley raised their target price on MYR Group from $28.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, November 16th. TheStreet raised MYR Group from a “c+” rating to a “b-” rating in a research report on Thursday, November 16th. KeyCorp reissued a “hold” rating on shares of MYR Group in a research report on Friday, November 24th. BidaskClub lowered MYR Group from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. Finally, Zacks Investment Research raised MYR Group from a “hold” rating to a “strong-buy” rating and set a $41.00 price target for the company in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. MYR Group currently has a consensus rating of “Hold” and an average price target of $36.00.

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About MYR Group

MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.

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

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