Schwab Charles Investment Management Inc. lifted its holdings in MYR Group Inc (NASDAQ:MYRG) by 11.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 160,528 shares of the utilities provider’s stock after acquiring an additional 17,016 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in MYR Group were worth $5,736,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new stake in shares of MYR Group in the 4th quarter worth approximately $254,000. Thomson Horstmann & Bryant Inc. lifted its position in shares of MYR Group by 13.8% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 344,357 shares of the utilities provider’s stock worth $12,303,000 after purchasing an additional 41,659 shares during the period. GSA Capital Partners LLP lifted its position in shares of MYR Group by 19.5% in the 3rd quarter. GSA Capital Partners LLP now owns 65,430 shares of the utilities provider’s stock worth $1,907,000 after purchasing an additional 10,672 shares during the period. California Public Employees Retirement System lifted its position in shares of MYR Group by 9.6% in the 3rd quarter. California Public Employees Retirement System now owns 42,954 shares of the utilities provider’s stock worth $1,252,000 after purchasing an additional 3,754 shares during the period. Finally, Western Standard LLC purchased a new stake in shares of MYR Group in the 3rd quarter worth approximately $393,000. 89.25% of the stock is owned by hedge funds and other institutional investors.

How to Become a New Pot Stock Millionaire

Shares of MYR Group Inc (MYRG) opened at $36.45 on Wednesday. MYR Group Inc has a 52-week low of $23.00 and a 52-week high of $43.49. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.01 and a current ratio of 2.01. The company has a market cap of $592.37, a P/E ratio of 45.00 and a beta of 0.45.

MYR Group (NASDAQ:MYRG) last posted its earnings results on Wednesday, March 7th. The utilities provider reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. MYR Group had a net margin of 1.51% and a return on equity of 4.90%. The company had revenue of $373.50 million during the quarter, compared to analysts’ expectations of $373.85 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. MYR Group’s revenue for the quarter was up 8.7% compared to the same quarter last year. equities analysts forecast that MYR Group Inc will post 1.79 EPS for the current fiscal year.

MYRG has been the subject of several research reports. Zacks Investment Research raised shares of MYR Group from a “hold” rating to a “strong-buy” rating and set a $41.00 price target for the company in a research report on Wednesday, January 3rd. ValuEngine cut shares of MYR Group from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. TheStreet raised shares of MYR Group from a “c+” rating to a “b-” rating in a research report on Thursday, November 16th. BidaskClub cut shares of MYR Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. Finally, B. Riley upped their price target on shares of MYR Group from $28.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.00.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another publication, it was stolen and reposted in violation of United States & international copyright and trademark laws. The correct version of this piece of content can be read at https://www.dailypolitical.com/2018/03/14/schwab-charles-investment-management-inc-increases-stake-in-myr-group-inc-myrg.html.

MYR Group Profile

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.

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.