Boston Partners bought a new position in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 99,517 shares of the utilities provider's stock, valued at approximately $14,811,000. Boston Partners owned 0.62% of MYR Group as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MCF Advisors LLC lifted its stake in shares of 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. Arcadia Investment Management Corp MI purchased a new stake in shares of MYR Group during the fourth quarter worth $47,000. Smartleaf Asset Management LLC boosted its holdings in shares of MYR Group by 697.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider's stock worth $49,000 after acquiring an additional 286 shares during the period. GAMMA Investing LLC boosted its holdings in shares of MYR Group by 27.0% in the fourth quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider's stock worth $83,000 after acquiring an additional 118 shares during the period. Finally, ANTIPODES PARTNERS Ltd grew its position in shares of MYR Group by 13.2% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock valued at $92,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 88.90% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have commented on MYRG. Stifel Nicolaus raised their target price on MYR Group from $153.00 to $172.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. KeyCorp raised shares of MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 price target on the stock in a report on Friday, March 14th. Finally, Robert W. Baird reduced their price objective 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. 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 presently has a consensus rating of "Moderate Buy" and an average target price of $155.00.
Check Out Our Latest Stock Report on MYR Group
MYR Group Price Performance
NASDAQ MYRG traded up $1.48 during trading on Monday, reaching $128.52. The company's stock had a trading volume of 213,970 shares, compared to its average volume of 199,639. The stock has a market capitalization of $2.07 billion, a PE ratio of 56.12 and a beta of 0.93. 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 of $132.89 and a 200 day moving average of $132.98. MYR Group Inc. has a one year low of $86.60 and a one year high of $181.02.
About MYR Group
(
Free Report)
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.
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