Militia Capital Management LLC Buys New Shares in MYR Group, Inc. $MYRG

Militia Capital Management LLC purchased a new position in shares of MYR Group, Inc. (NASDAQ:MYRG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,000 shares of the utilities provider’s stock, valued at approximately $847,000.

A number of other large investors also recently bought and sold shares of MYRG. Farther Finance Advisors LLC boosted its holdings in shares of MYR Group by 212.2% in the 4th quarter. Farther Finance Advisors LLC now owns 153 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 104 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of MYR Group by 207.9% during the 1st quarter. Parallel Advisors LLC now owns 117 shares of the utilities provider’s stock valued at $33,000 after buying an additional 79 shares during the period. Acumen Wealth Advisors LLC acquired a new stake in shares of MYR Group during the 4th quarter worth $35,000. Signaturefd LLC increased its holdings in shares of MYR Group by 65.7% during the 4th quarter. Signaturefd LLC now owns 164 shares of the utilities provider’s stock worth $36,000 after buying an additional 65 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its position in shares of MYR Group by 271.2% in the 4th quarter. Hantz Financial Services Inc. now owns 219 shares of the utilities provider’s stock worth $48,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Insider Buying and Selling at MYR Group

In other MYR Group news, Director Donald C.I. Lucky sold 14,675 shares of the business’s 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 transaction, the director owned 5,579 shares in the company, valued at $2,507,927.87. The trade was a 72.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenneth Michael Hartwick sold 3,500 shares of the business’s stock in a transaction on 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 completion of the transaction, the director owned 18,631 shares in the company, valued at $8,393,265.50. This represents a 15.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MYRG shares. Robert W. Baird set a $375.00 target price on MYR Group in a report on Thursday. Stifel Nicolaus set a $503.00 price target on MYR Group in a research note on Monday, May 4th. Weiss Ratings restated a “buy (b-)” rating on shares of MYR Group in a research note on Friday, July 17th. Zacks Research downgraded MYR Group from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Finally, Jefferies Financial Group set a $392.00 price objective on MYR Group in a research note on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, MYR Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

MYR Group Price Performance

NASDAQ MYRG opened at $333.22 on Monday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.01. MYR Group, Inc. has a fifty-two week low of $171.51 and a fifty-two week high of $503.57. The business has a 50 day moving average price of $430.70 and a two-hundred day moving average price of $350.13. The stock has a market cap of $5.19 billion, a PE ratio of 31.61 and a beta of 1.34.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.55. MYR Group had a net margin of 4.13% and a return on equity of 24.17%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $995.74 million. During the same quarter last year, the firm posted $1.70 earnings per share. The business’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, sell-side analysts predict that MYR Group, Inc. will post 11.43 EPS 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.