BNP Paribas Arbitrage SA Has $248,000 Stake in MYR Group Inc (MYRG)

BNP Paribas Arbitrage SA lifted its stake in shares of MYR Group Inc (NASDAQ:MYRG) by 56.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,501 shares of the utilities provider’s stock after purchasing an additional 3,077 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.05% of MYR Group worth $248,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in shares of MYR Group by 2.4% during the second quarter. Arizona State Retirement System now owns 8,559 shares of the utilities provider’s stock worth $266,000 after purchasing an additional 200 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of MYR Group by 3.1% during the second quarter. Louisiana State Employees Retirement System now owns 6,700 shares of the utilities provider’s stock worth $208,000 after purchasing an additional 200 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of MYR Group by 3.4% during the second quarter. Texas Permanent School Fund now owns 12,028 shares of the utilities provider’s stock worth $373,000 after purchasing an additional 397 shares during the last quarter. Royal Bank of Canada raised its stake in shares of MYR Group by 11.4% during the second quarter. Royal Bank of Canada now owns 8,325 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 852 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of MYR Group by 11.0% during the second quarter. Voya Investment Management LLC now owns 9,520 shares of the utilities provider’s stock worth $295,000 after purchasing an additional 941 shares during the last quarter. Institutional investors and hedge funds own 87.20% of the company’s stock.

Several equities research analysts have recently commented on the company. B. Riley restated a “neutral” rating on shares of MYR Group in a research note on Wednesday, November 1st. Stifel Nicolaus restated a “hold” rating and set a $36.00 price target on shares of MYR Group in a research note on Tuesday, August 29th. KeyCorp restated a “hold” rating on shares of MYR Group in a research note on Friday, November 24th. Robert W. Baird upped their price target on MYR Group from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Finally, FBR & Co cut their price target on MYR Group from $37.00 to $28.00 and set a “market perform” rating for the company in a research note on Friday, August 18th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $32.40.

MYR Group Inc (MYRG) opened at $35.68 on Thursday. MYR Group Inc has a twelve month low of $23.00 and a twelve month high of $43.77. The firm has a market capitalization of $590.33, a price-to-earnings ratio of 39.43 and a beta of 0.47. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.30.

MYR Group (NASDAQ:MYRG) last announced its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.17). MYR Group had a return on equity of 7.65% and a net margin of 1.38%. The business had revenue of $373.50 million for the quarter, compared to analyst estimates of $350.80 million. During the same period in the prior year, the company earned $0.38 EPS. The company’s revenue was up 31.8% on a year-over-year basis. analysts expect that MYR Group Inc will post 0.79 EPS for the current fiscal year.

WARNING: “BNP Paribas Arbitrage SA Has $248,000 Stake in MYR Group Inc (MYRG)” was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another site, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The original version of this piece can be read at https://www.com-unik.info/2017/12/14/bnp-paribas-arbitrage-sa-has-248000-stake-in-myr-group-inc-myrg.html.

MYR Group Profile

MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.

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 (NASDAQ:MYRG).

Institutional Ownership by Quarter for MYR Group (NASDAQ:MYRG)

Receive News & Ratings for MYR Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MYR Group and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit