Mutual of America Capital Management LLC Sells 273 Shares of MYR Group Inc. (NASDAQ:MYRG)

Mutual of America Capital Management LLC cut its holdings in MYR Group Inc. (NASDAQ:MYRG) by 9.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,483 shares of the utilities provider’s stock after selling 273 shares during the quarter. Mutual of America Capital Management LLC’s holdings in MYR Group were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its stake in shares of MYR Group by 1.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the utilities provider’s stock valued at $1,140,000 after purchasing an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in MYR Group by 0.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 28,000 shares of the utilities provider’s stock worth $3,800,000 after purchasing an additional 160 shares during the period. Linden Thomas Advisory Services LLC raised its holdings in MYR Group by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 11,252 shares of the utilities provider’s stock worth $1,527,000 after purchasing an additional 193 shares in the last quarter. RiverPark Advisors LLC lifted its position in MYR Group by 21.9% during the second quarter. RiverPark Advisors LLC now owns 1,089 shares of the utilities provider’s stock valued at $148,000 after buying an additional 196 shares during the period. Finally, TD Asset Management Inc boosted its holdings in shares of MYR Group by 10.4% during the 2nd quarter. TD Asset Management Inc now owns 5,300 shares of the utilities provider’s stock valued at $719,000 after buying an additional 500 shares in the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

MYR Group Stock Performance

Shares of NASDAQ MYRG opened at $157.77 on Friday. The stock has a market cap of $2.54 billion, a PE ratio of 68.90 and a beta of 0.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a fifty day moving average price of $125.38 and a 200-day moving average price of $127.00. MYR Group Inc. has a 1 year low of $86.60 and a 1 year high of $181.02.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.40. The company had revenue of $888.00 million for the quarter, compared to analysts’ expectations of $917.18 million. MYR Group had a return on equity of 6.05% and a net margin of 1.08%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 EPS. Equities analysts anticipate that MYR Group Inc. will post 1.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MYRG shares. Robert W. Baird lifted their price target on shares of MYR Group from $131.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. StockNews.com raised MYR Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. The Goldman Sachs Group lifted their price target on MYR Group from $124.00 to $153.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Stifel Nicolaus decreased their price target on MYR Group from $172.00 to $119.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, MYR Group presently has an average rating of “Moderate Buy” and a consensus target price of $143.75.

MYR Group Profile

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.