Militia Capital Management LLC Acquires Shares of 3,000 MYR Group, Inc. $MYRG

Militia Capital Management LLC bought a new stake in MYR Group, Inc. (NASDAQ:MYRG) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,000 shares of the utilities provider’s stock, valued at approximately $847,000.

Several other large investors have also made changes to their positions in MYRG. Wellington Management Group LLP increased its position in shares of MYR Group by 63.5% during the 4th quarter. Wellington Management Group LLP now owns 1,021,293 shares of the utilities provider’s stock worth $223,153,000 after purchasing an additional 396,502 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in MYR Group during the 4th quarter valued at about $47,012,000. Invesco Ltd. boosted its position in MYR Group by 59.9% in the third 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 in the last quarter. Squarepoint Ops LLC boosted its position in MYR Group by 274.9% in the third 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 in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in MYR Group during the second quarter worth about $13,609,000. Institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MYRG. Jefferies Financial Group set a $392.00 price objective on shares of MYR Group in a report on Friday, July 10th. Stifel Nicolaus set a $503.00 target price on MYR Group in a report on Monday, May 4th. Zacks Research lowered MYR Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 10th. Robert W. Baird set a $373.00 price target on MYR Group in a report on Thursday, April 30th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of MYR Group in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, MYR Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $389.83.

Insider Activity at MYR Group

In other MYR Group news, Director Kenneth Michael Hartwick sold 3,500 shares of the company’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 transaction, the director owned 18,631 shares of the company’s stock, valued at approximately $8,393,265.50. This represents a 15.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.90% of the company’s stock.

MYR Group Trading Down 0.4%

Shares of NASDAQ MYRG opened at $407.40 on Friday. MYR Group, Inc. has a 1-year low of $171.51 and a 1-year high of $503.57. The company has a market cap of $6.34 billion, a PE ratio of 44.92 and a beta of 1.31. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $442.99 and a two-hundred day moving average of $345.20.

MYR Group (NASDAQ:MYRG) last announced its earnings results on Wednesday, April 29th. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $932.45 million. During the same period in the prior year, the business earned $1.45 earnings per share. MYR Group’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, equities analysts expect that MYR Group, Inc. will post 11.43 earnings per share for the current fiscal year.

MYR Group Company Profile

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.