Round Rock Advisors LLC Purchases 1,872 Shares of MYR Group, Inc. $MYRG

Round Rock Advisors LLC raised its position in shares of MYR Group, Inc. (NASDAQ:MYRG) by 59.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,996 shares of the utilities provider’s stock after purchasing an additional 1,872 shares during the quarter. Round Rock Advisors LLC’s holdings in MYR Group were worth $1,092,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of MYR Group by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,225,288 shares of the utilities provider’s stock valued at $254,897,000 after acquiring an additional 157,157 shares during the period. Wellington Management Group LLP grew its stake in shares of MYR Group by 69.2% during the 3rd quarter. Wellington Management Group LLP now owns 624,791 shares of the utilities provider’s stock valued at $129,975,000 after acquiring an additional 255,493 shares during the period. Fisher Asset Management LLC grew its stake in shares of MYR Group by 0.9% during the 3rd quarter. Fisher Asset Management LLC now owns 450,402 shares of the utilities provider’s stock valued at $93,697,000 after acquiring an additional 4,203 shares during the period. Principal Financial Group Inc. grew its stake in shares of MYR Group by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 380,314 shares of the utilities provider’s stock valued at $79,117,000 after acquiring an additional 4,353 shares during the period. Finally, Invesco Ltd. grew its stake in shares of MYR Group by 59.9% during the 3rd quarter. Invesco Ltd. now owns 245,435 shares of the utilities provider’s stock valued at $51,058,000 after acquiring an additional 91,923 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MYRG shares. The Goldman Sachs Group boosted their price objective on MYR Group from $248.00 to $296.00 and gave the company a “neutral” rating in a research note on Tuesday, March 3rd. Stifel Nicolaus set a $351.00 price target on MYR Group in a report on Thursday. Cantor Fitzgerald boosted their price target on MYR Group from $285.00 to $311.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Zacks Research raised MYR Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Finally, Weiss Ratings raised MYR Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $242.00.

MYR Group Stock Up 0.8%

Shares of MYRG opened at $332.05 on Tuesday. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 44.10 and a beta of 1.07. MYR Group, Inc. has a 1 year low of $106.52 and a 1 year high of $333.50. The business’s 50 day simple moving average is $281.15 and its 200-day simple moving average is $245.69. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.33 and a quick ratio of 1.33.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings data on Wednesday, February 25th. The utilities provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.60. The business had revenue of $973.54 million for the quarter, compared to analysts’ expectations of $897.73 million. MYR Group had a return on equity of 19.66% and a net margin of 3.24%.The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS. As a group, equities analysts expect that MYR Group, Inc. will post 9.23 earnings per share for the current fiscal 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.