Militia Capital Partners LP Has $656,000 Holdings in MYR Group, Inc. $MYRG

Militia Capital Partners LP cut its position in MYR Group, Inc. (NASDAQ:MYRG) by 36.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,000 shares of the utilities provider’s stock after selling 1,700 shares during the quarter. Militia Capital Partners LP’s holdings in MYR Group were worth $656,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MYRG. Wellington Management Group LLP grew its stake in MYR Group by 69.2% in the 3rd quarter. Wellington Management Group LLP now owns 624,791 shares of the utilities provider’s stock valued at $129,975,000 after buying an additional 255,493 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in MYR Group in the 4th quarter valued at $47,012,000. Vanguard Group Inc. grew its stake in MYR Group by 14.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,225,288 shares of the utilities provider’s stock valued at $254,897,000 after buying an additional 157,157 shares during the last quarter. Invesco Ltd. grew its stake in MYR Group by 59.9% in the 3rd quarter. Invesco Ltd. now owns 245,435 shares of the utilities provider’s stock valued at $51,058,000 after buying an additional 91,923 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in MYR Group by 274.9% in the 3rd quarter. Squarepoint Ops LLC now owns 121,434 shares of the utilities provider’s stock valued at $25,262,000 after buying an additional 89,044 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MYRG shares. The Goldman Sachs Group raised their target price on shares of MYR Group from $248.00 to $296.00 and gave the company a “neutral” rating in a research note on Tuesday, March 3rd. Oppenheimer reiterated a “market perform” rating on shares of MYR Group in a research note on Thursday, June 11th. Robert W. Baird set a $373.00 target price on shares of MYR Group in a research note on Thursday, April 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of MYR Group in a research note on Tuesday, April 21st. Finally, Cantor Fitzgerald increased their price target on shares of MYR Group from $311.00 to $564.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $358.17.

Insiders Place Their Bets

In other MYR Group news, Director Donald C.I. Lucky sold 14,675 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $449.53, for a total value of $6,596,852.75. Following the completion of the sale, the director directly owned 5,579 shares of the company’s stock, valued at $2,507,927.87. This represents a 72.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth Michael Hartwick sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is owned by corporate insiders.

MYR Group Price Performance

Shares of MYR Group stock opened at $446.77 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.31 and a quick ratio of 1.31. MYR Group, Inc. has a fifty-two week low of $161.55 and a fifty-two week high of $484.71. The firm has a fifty day moving average price of $402.95 and a two-hundred day moving average price of $304.13. The company has a market cap of $6.96 billion, a PE ratio of 49.26 and a beta of 1.32.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.90. MYR Group had a net margin of 3.71% and a return on equity of 22.14%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $932.45 million. During the same period in the prior year, the firm earned $1.45 EPS. The business’s revenue was up 20.0% on a year-over-year basis. Analysts expect that MYR Group, Inc. will post 10.92 EPS for the current year.

About MYR Group

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.