Advisors Asset Management Inc. Raises Position in MYR Group Inc. (NASDAQ:MYRG)

Advisors Asset Management Inc. increased its stake in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,301 shares of the utilities provider's stock after buying an additional 2,051 shares during the quarter. Advisors Asset Management Inc. owned about 0.15% of MYR Group worth $3,615,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MYRG. ANTIPODES PARTNERS Ltd boosted its holdings in MYR Group by 13.2% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock valued at $92,000 after acquiring an additional 72 shares during the period. Tidal Investments LLC grew its holdings in shares of MYR Group by 2.0% in the third quarter. Tidal Investments LLC now owns 4,286 shares of the utilities provider's stock worth $438,000 after purchasing an additional 83 shares during the last quarter. GAMMA Investing LLC increased its stake in MYR Group by 27.0% in the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider's stock worth $83,000 after buying an additional 118 shares during the period. MCF Advisors LLC lifted its holdings in MYR Group by 470.0% during the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider's stock valued at $25,000 after buying an additional 141 shares in the last quarter. Finally, Morgan Dempsey Capital Management LLC boosted its position in MYR Group by 17.5% in the 4th quarter. Morgan Dempsey Capital Management LLC now owns 1,317 shares of the utilities provider's stock valued at $196,000 after buying an additional 196 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several analysts have recently weighed in on MYRG shares. Robert W. Baird decreased their price target on shares of MYR Group from $201.00 to $159.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. KeyCorp upgraded MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 target price for the company in a report on Friday, March 14th. Finally, Stifel Nicolaus raised their price target on MYR Group from $153.00 to $172.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $155.00.

MYR Group Stock Up 0.4 %

Shares of NASDAQ:MYRG traded up $0.45 on Tuesday, reaching $128.97. The company had a trading volume of 164,117 shares, compared to its average volume of 199,639. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.08 billion, a PE ratio of 56.32 and a beta of 0.93. MYR Group Inc. has a 52-week low of $86.60 and a 52-week high of $181.02. The firm's 50 day simple moving average is $132.89 and its 200-day simple moving average is $132.98.

MYR Group Company 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.