Sei Investments Co. Has $4.94 Million Stake in MYR Group, Inc. $MYRG

Sei Investments Co. increased its stake in shares of MYR Group, Inc. (NASDAQ:MYRG) by 68.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,498 shares of the utilities provider’s stock after buying an additional 7,129 shares during the period. Sei Investments Co. owned 0.11% of MYR Group worth $4,940,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of MYR Group by 212.2% during the 4th quarter. Farther Finance Advisors LLC now owns 153 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 104 shares during the period. Parallel Advisors LLC boosted its stake in shares of MYR Group by 207.9% in the 1st quarter. Parallel Advisors LLC now owns 117 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 79 shares in the last quarter. Acumen Wealth Advisors LLC acquired a new stake in MYR Group in the fourth quarter valued at approximately $35,000. Signaturefd LLC boosted 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 valued at $36,000 after acquiring an additional 65 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in shares of MYR Group by 271.2% during the fourth quarter. Hantz Financial Services Inc. now owns 219 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 160 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Kenneth Michael Hartwick sold 3,500 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $450.50, for a total transaction of $1,576,750.00. Following the sale, the director owned 18,631 shares in the company, valued at approximately $8,393,265.50. The trade was a 15.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Donald C.I. Lucky sold 14,675 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $449.53, for a total transaction of $6,596,852.75. Following the sale, the director directly owned 5,579 shares in the company, valued at $2,507,927.87. The trade was a 72.45% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Oppenheimer reiterated a “market perform” rating on shares of MYR Group in a report on Thursday, June 11th. Zacks Research downgraded MYR Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 10th. Stifel Nicolaus set a $503.00 price target on shares of MYR Group in a research report on Monday, May 4th. Robert W. Baird set a $375.00 price objective on MYR Group in a report on Thursday, July 30th. Finally, Cantor Fitzgerald upped their target price on shares of MYR Group from $311.00 to $564.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

MYR Group Stock Performance

Shares of MYRG opened at $333.77 on Thursday. MYR Group, Inc. has a 12-month low of $171.51 and a 12-month high of $503.57. The company has a market cap of $5.20 billion, a PE ratio of 31.67 and a beta of 1.34. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $423.28 and a 200-day moving average price of $352.28.

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, topping analysts’ consensus estimates of $2.62 by $0.55. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $995.74 million. MYR Group had a return on equity of 24.17% and a net margin of 4.13%.The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.70 EPS. As a group, equities analysts forecast that MYR Group, Inc. will post 11.99 earnings per share for the current fiscal year.

MYR Group 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.