Charles Schwab Investment Management Inc. Has $36.03 Million Position in MYR Group Inc. (NASDAQ:MYRG)

Charles Schwab Investment Management Inc. increased its position in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 242,201 shares of the utilities provider's stock after buying an additional 9,146 shares during the period. Charles Schwab Investment Management Inc. owned 1.50% of MYR Group worth $36,032,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC raised its holdings 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 purchasing an additional 141 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in MYR Group during the fourth quarter worth $47,000. Smartleaf Asset Management LLC raised its holdings 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 buying an additional 286 shares in the last quarter. GAMMA Investing LLC lifted its position 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 buying an additional 118 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of MYR Group by 56.8% during the 4th quarter. KBC Group NV now owns 737 shares of the utilities provider's stock worth $110,000 after acquiring an additional 267 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Stifel Nicolaus boosted their target price on MYR Group from $153.00 to $172.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. 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 report on Thursday, February 27th. Finally, KeyCorp upgraded MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 price objective on the stock in a research note on Friday, March 14th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $155.00.

MYR Group Stock Performance

NASDAQ MYRG traded up $2.39 during midday trading on Wednesday, hitting $126.73. The company had a trading volume of 170,634 shares, compared to its average volume of 196,911. The firm has a fifty day simple moving average of $134.22 and a two-hundred day simple moving average of $132.07. MYR Group Inc. has a fifty-two week low of $86.60 and a fifty-two week high of $181.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 55.43 and a beta of 0.93.

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.