Bokf Na Purchases 2,946 Shares of MYR Group, Inc. $MYRG

Bokf Na purchased a new position in shares of MYR Group, Inc. (NASDAQ:MYRG) during the third quarter, HoldingsChannel reports. The firm purchased 2,946 shares of the utilities provider’s stock, valued at approximately $862,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in MYR Group in the second quarter valued at $1,232,294,000. Bank of America Corp DE bought a new position in MYR Group during the 2nd quarter worth $61,365,000. Bank of New York Mellon Corp acquired a new position in MYR Group during the 2nd quarter worth about $53,361,000. Neumeier Poma Investment Counsel LLC acquired a new position in MYR Group during the 2nd quarter worth about $50,008,475. Finally, Congress Asset Management Co. grew its position in shares of MYR Group by 94.7% in the 3rd quarter. Congress Asset Management Co. now owns 143,103 shares of the utilities provider’s stock valued at $41,852,000 after buying an additional 69,594 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

MYR Group Price Performance

Shares of MYRG opened at $282.62 on Friday. MYR Group, Inc. has a 52-week low of $199.30 and a 52-week high of $503.57. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.40 and a current ratio of 1.33. The business’s 50 day moving average price is $289.49 and its two-hundred day moving average price is $333.43. The firm has a market cap of $4.40 billion, a PE ratio of 22.96 and a beta of 1.32.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings data on Wednesday, October 28th. The utilities provider reported $3.82 EPS for the quarter, topping the consensus estimate of $2.97 by $0.85. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.16 billion. MYR Group had a net margin of 4.48% and a return on equity of 26.32%. The company’s quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 EPS. On average, equities analysts anticipate that MYR Group, Inc. will post 12.43 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MYRG shares. Jefferies Financial Group raised MYR Group from a “hold” rating to a “buy” rating and decreased their price target for the company from $377.00 to $370.00 in a research note on Tuesday, October 6th. Stifel Nicolaus cut their price objective on MYR Group from $445.00 to $393.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $331.00 price objective on shares of MYR Group in a research note on Thursday, October 22nd. Weiss Ratings cut MYR Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, September 2nd. Finally, Wall Street Zen downgraded shares of MYR Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, MYR Group presently has an average rating of “Moderate Buy” and an average price target of $404.20.

MYR Group Profile

MYR Group Inc is a holding company that operates specialty electrical infrastructure contracting businesses in the United States and Canada. Its companies provide construction, maintenance, repair and emergency restoration services for electric power infrastructure and other complex electrical systems.

MYR Group operates through two primary segments: Transmission and Distribution and Commercial and Industrial. Its transmission and distribution work includes overhead and underground power lines, substations and related utility infrastructure.