MYR Group (NASDAQ:MYRG) Sees Unusually-High Trading Volume

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Shares of MYR Group Inc. (NASDAQ:MYRGGet Rating) saw unusually-strong trading volume on Friday . Approximately 2,604 shares changed hands during mid-day trading, a decline of 97% from the previous session’s volume of 101,554 shares.The stock last traded at $85.55 and had previously closed at $86.82.

Analyst Ratings Changes

Several equities research analysts have issued reports on MYRG shares. StockNews.com upgraded MYR Group from a “hold” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus lowered their price target on MYR Group from $126.00 to $101.00 in a report on Wednesday, April 27th.

MYR Group Stock Performance

The stock has a fifty day moving average of $87.40 and a 200-day moving average of $91.29. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.50 billion, a P/E ratio of 17.60 and a beta of 1.12.

MYR Group (NASDAQ:MYRGGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The utilities provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.03 by $0.18. MYR Group had a return on equity of 16.96% and a net margin of 3.37%. The firm had revenue of $636.62 million during the quarter, compared to analysts’ expectations of $605.10 million. During the same period in the prior year, the firm posted $1.17 earnings per share. On average, research analysts anticipate that MYR Group Inc. will post 5.05 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MYRG. Strs Ohio lifted its position in shares of MYR Group by 4.0% in the first quarter. Strs Ohio now owns 10,500 shares of the utilities provider’s stock valued at $987,000 after buying an additional 400 shares during the last quarter. Millennium Management LLC lifted its position in shares of MYR Group by 26.3% in the fourth quarter. Millennium Management LLC now owns 275,187 shares of the utilities provider’s stock valued at $30,422,000 after buying an additional 57,218 shares during the last quarter. Aviva PLC lifted its position in shares of MYR Group by 47.3% in the fourth quarter. Aviva PLC now owns 22,896 shares of the utilities provider’s stock valued at $2,531,000 after buying an additional 7,350 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of MYR Group by 8.2% in the third quarter. UBS Asset Management Americas Inc. now owns 25,056 shares of the utilities provider’s stock valued at $2,493,000 after buying an additional 1,901 shares during the last quarter. Finally, Rice Hall James & Associates LLC lifted its position in shares of MYR Group by 49.1% in the fourth quarter. Rice Hall James & Associates LLC now owns 50,091 shares of the utilities provider’s stock valued at $5,538,000 after buying an additional 16,506 shares during the last quarter. 86.17% of the stock is owned by institutional investors and hedge funds.

MYR Group Company Profile

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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, renewable power facilities, and limited gas construction services, as well as emergency restoration services in response to hurricane, ice, or other storm related damages.

Further Reading

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