Artisan Partners Limited Partnership Has $48.22 Million Stock Holdings in MYR Group Inc. (NASDAQ:MYRG)

Artisan Partners Limited Partnership lifted its position in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 19.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 324,139 shares of the utilities provider's stock after buying an additional 53,496 shares during the period. Artisan Partners Limited Partnership owned approximately 2.01% of MYR Group worth $48,222,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. ANTIPODES PARTNERS Ltd raised its position in MYR Group by 13.2% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock worth $92,000 after acquiring an additional 72 shares in the last quarter. Tidal Investments LLC lifted its stake in MYR Group by 2.0% during the third quarter. Tidal Investments LLC now owns 4,286 shares of the utilities provider's stock valued at $438,000 after purchasing an additional 83 shares during the last quarter. GAMMA Investing LLC lifted its stake 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 during the last quarter. MCF Advisors LLC grew its position in 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 during the last quarter. Finally, Morgan Dempsey Capital Management LLC increased its holdings in shares of MYR Group by 17.5% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

MYR Group Stock Up 4.3 %

Shares of NASDAQ MYRG traded up $4.85 during mid-day trading on Wednesday, reaching $118.63. The company had a trading volume of 66,824 shares, compared to its average volume of 238,749. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 51.79 and a beta of 0.93. The stock has a fifty day moving average of $129.34 and a two-hundred day moving average of $134.07. MYR Group Inc. has a 12-month low of $86.60 and a 12-month high of $181.02.

Analysts Set New Price Targets

MYRG has been the subject of several research reports. Robert W. Baird reduced their price objective on MYR Group from $201.00 to $159.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Stifel Nicolaus boosted their price objective on MYR Group from $153.00 to $172.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Finally, KeyCorp upgraded shares of 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $155.00.

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.