WINTON GROUP Ltd Purchases New Position in MYR Group, Inc. $MYRG

WINTON GROUP Ltd purchased a new stake in MYR Group, Inc. (NASDAQ:MYRG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,770 shares of the utilities provider’s stock, valued at approximately $1,228,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MYRG. Cerity Partners LLC acquired a new stake in shares of MYR Group in the 2nd quarter valued at $269,000. Gabelli Funds LLC acquired a new position in MYR Group in the second quarter valued at about $1,696,000. Jump Financial LLC bought a new stake in MYR Group during the second quarter worth about $594,000. Intrinsic Edge Capital Management LLC acquired a new stake in shares of MYR Group during the second quarter worth approximately $6,049,000. Finally, Marshall Wace LLP increased its holdings in shares of MYR Group by 131.0% during the second quarter. Marshall Wace LLP now owns 109,630 shares of the utilities provider’s stock worth $19,892,000 after buying an additional 62,168 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

MYR Group Stock Up 0.1%

NASDAQ MYRG opened at $226.50 on Thursday. The stock has a fifty day moving average of $217.19 and a 200-day moving average of $193.84. The stock has a market capitalization of $3.52 billion, a P/E ratio of 36.59 and a beta of 1.20. MYR Group, Inc. has a 52 week low of $97.72 and a 52 week high of $241.13. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.33 and a current ratio of 1.33.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings results on Wednesday, October 29th. The utilities provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.23. The business had revenue of $950.40 million for the quarter, compared to analyst estimates of $931.72 million. MYR Group had a return on equity of 16.65% and a net margin of 2.78%.The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, equities research analysts forecast that MYR Group, Inc. will post 1.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MYRG shares. Weiss Ratings reissued a “hold (c+)” rating on shares of MYR Group in a report on Monday. KeyCorp reissued a “sector weight” rating on shares of MYR Group in a research note on Wednesday, October 1st. The Goldman Sachs Group raised their target price on MYR Group from $205.00 to $248.00 and gave the company a “neutral” rating in a research note on Friday, November 14th. Jefferies Financial Group assumed coverage on MYR Group in a report on Friday, August 15th. They issued a “hold” rating and a $202.00 price target for the company. Finally, Wall Street Zen raised shares of MYR Group from a “buy” rating to a “strong-buy” rating in a report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, MYR Group has a consensus rating of “Moderate Buy” and a consensus price target of $201.67.

Insiders Place Their Bets

In other MYR Group news, COO Don A. Egan sold 2,900 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $233.40, for a total transaction of $676,860.00. Following the transaction, the chief operating officer directly owned 5,797 shares in the company, valued at approximately $1,353,019.80. This represents a 33.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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.