Amundi Acquires 5,229 Shares of MYR Group Inc. (NASDAQ:MYRG)

Amundi increased its holdings in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 179.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,146 shares of the utilities provider's stock after buying an additional 5,229 shares during the period. Amundi owned 0.05% of MYR Group worth $1,186,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MCF Advisors LLC raised its position in shares of MYR Group by 470.0% in the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider's stock worth $25,000 after buying an additional 141 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in MYR Group during the fourth quarter valued at about $47,000. Smartleaf Asset Management LLC raised its position in MYR Group by 697.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider's stock valued at $49,000 after purchasing an additional 286 shares in the last quarter. GAMMA Investing LLC raised its position in MYR Group by 27.0% during the fourth quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider's stock valued at $83,000 after purchasing an additional 118 shares in the last quarter. Finally, KBC Group NV raised its position in MYR Group by 56.8% during the fourth quarter. KBC Group NV now owns 737 shares of the utilities provider's stock valued at $110,000 after purchasing an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on MYRG. 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 report on Wednesday, December 11th. KeyCorp upgraded MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 price target on the stock in a research report on Friday, March 14th. Finally, Robert W. Baird lowered their price target on MYR Group from $201.00 to $159.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $155.00.

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MYR Group Trading Up 1.3 %

Shares of MYRG traded up $1.69 during trading hours on Friday, hitting $127.04. The company had a trading volume of 500,283 shares, compared to its average volume of 199,293. The firm has a market cap of $2.05 billion, a P/E ratio of 55.48 and a beta of 0.93. The stock's 50 day moving average price is $133.11 and its 200 day moving average price is $132.16. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. MYR Group Inc. has a 52-week low of $86.60 and a 52-week high of $181.02.

About MYR Group

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.