2 weeks Ago By ABMN Staff
Amalgamated Bank decreased its holdings in MYR Group Inc. ( NASDAQ:MYRG – Free Report ) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC).
The fund owned 5,112 shares of the utilities provider’s stock after selling 178 shares during the quarter. Amalgamated Bank’s holdings in MYR Group were worth $694,000 at the end of the most recent quarter. Other institutional investors and hedge funds have also recently bought and sold shares of the company.
Fidelis Capital Partners LLC purchased a new stake in MYR Group in the 1st quarter valued at $48,000. GAMMA Investing LLC raised its position in MYR Group by 37.8% in the 1st quarter.
GAMMA Investing LLC now owns 598 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 164 shares during the last quarter. Covestor Ltd raised its position in MYR Group by 23.7% in the 1st quarter.
Covestor Ltd now owns 689 shares of the utilities provider’s stock valued at $122,000 after purchasing an additional 132 shares during the last quarter. RiverPark Advisors LLC raised its position in MYR Group by 21.9% during the 2nd quarter.
RiverPark Advisors LLC now owns 1,089 shares of the utilities provider’s stock worth $148,000 after buying an additional 196 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in MYR Group during the 1st quarter worth $186,000. Hedge funds and other institutional investors own 88.
90% of the company’s stock. Wall Street Analyst Weigh In A number of brokerages have commented on MYRG. The Goldman Sachs Group cut their price objective on shares of MYR Group from $182.
00 to $124.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. StockNews.
com downgraded shares of MYR Group from a “hold” rating to a “sell” rating in a research report on Wednesday, September 18th. Stifel Nicolaus cut their price objective on shares of MYR Group from $172.00 to $119.
00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, Robert W. Baird cut their price objective on shares of MYR Group from $170.
00 to $143.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company.
According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $137.75. MYR Group Price Performance Shares of NASDAQ MYRG opened at $102.
75 on Friday. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 19.
91 and a beta of 0.93. MYR Group Inc.
has a 52 week low of $86.60 and a 52 week high of $181.02.
The company’s 50-day moving average price is $106.35 and its 200 day moving average price is $137.70.
The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.
06. MYR Group ( NASDAQ:MYRG – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported ($0.
91) EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($1.98).
MYR Group had a net margin of 1.37% and a return on equity of 7.65%.
The business had revenue of $828.89 million during the quarter, compared to analyst estimates of $876.07 million.
During the same period in the previous year, the company posted $1.33 earnings per share. MYR Group’s revenue was down 6.
7% on a year-over-year basis. As a group, research analysts forecast that MYR Group Inc. will post 0.
91 earnings per share for the current fiscal year. MYR Group Profile ( Free Report ) 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, clean energy projects, and electric vehicle charging infrastructure services, as well as emergency restoration services in response to hurricane, wildfire, ice, or other related damages. Further Reading Want to see what other hedge funds are holding MYRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MYR Group Inc.
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