WINTON GROUP Ltd Sells 1,574 Shares of MYR Group, Inc. $MYRG

WINTON GROUP Ltd reduced its stake in MYR Group, Inc. (NASDAQ:MYRG) by 37.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,599 shares of the utilities provider’s stock after selling 1,574 shares during the period. WINTON GROUP Ltd’s holdings in MYR Group were worth $568,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in MYR Group by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 1,265,452 shares of the utilities provider’s stock worth $276,501,000 after purchasing an additional 40,164 shares during the period. Wellington Management Group LLP grew its holdings in MYR Group by 69.2% in the third quarter. Wellington Management Group LLP now owns 624,791 shares of the utilities provider’s stock worth $129,975,000 after purchasing an additional 255,493 shares during the period. Fisher Asset Management LLC grew its holdings in MYR Group by 4.7% in the fourth quarter. Fisher Asset Management LLC now owns 471,706 shares of the utilities provider’s stock worth $103,068,000 after purchasing an additional 21,304 shares during the period. Geode Capital Management LLC grew its holdings in MYR Group by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 396,166 shares of the utilities provider’s stock worth $86,574,000 after purchasing an additional 13,511 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in MYR Group by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 389,009 shares of the utilities provider’s stock worth $84,998,000 after purchasing an additional 8,695 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Insider Activity at MYR Group

In related news, Director Kenneth Michael Hartwick sold 3,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director owned 18,631 shares of the company’s stock, valued at $8,393,265.50. This trade represents a 15.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Donald C.I. Lucky sold 14,675 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were 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 of the company’s stock, valued at $2,507,927.87. This trade represents a 72.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is owned by company insiders.

MYR Group Price Performance

Shares of MYRG opened at $407.22 on Thursday. The company has a market capitalization of $6.34 billion, a P/E ratio of 44.90 and a beta of 1.32. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $390.46 and a 200 day moving average of $297.69. MYR Group, Inc. has a twelve month low of $158.48 and a twelve month high of $484.71.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings results on Wednesday, April 29th. The utilities provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.90. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $932.45 million. MYR Group had a net margin of 3.71% and a return on equity of 22.14%. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.45 earnings per share. As a group, equities research analysts anticipate that MYR Group, Inc. will post 10.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MYRG has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price objective on shares of MYR Group from $248.00 to $296.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Cantor Fitzgerald upped their price objective on shares of MYR Group from $311.00 to $564.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Zacks Research upgraded shares of MYR Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. Stifel Nicolaus set a $503.00 price objective on shares of MYR Group in a report on Monday, May 4th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of MYR Group in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $358.17.

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.