DRW Securities LLC Makes New Investment in MYR Group Inc. (NASDAQ:MYRG)

DRW Securities LLC acquired a new stake in MYR Group Inc. (NASDAQ:MYRG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,180 shares of the utilities provider's stock, valued at approximately $1,514,000. DRW Securities LLC owned 0.06% of MYR Group as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in MYR Group in the 4th quarter worth about $60,217,000. ACK Asset Management LLC purchased a new position in MYR Group during the fourth quarter valued at approximately $29,754,000. Boston Partners purchased a new stake in MYR Group in the 4th quarter worth approximately $14,811,000. American Century Companies Inc. grew its holdings in shares of MYR Group by 38.2% during the 4th quarter. American Century Companies Inc. now owns 331,840 shares of the utilities provider's stock valued at $49,368,000 after acquiring an additional 91,644 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in shares of MYR Group by 19.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 324,139 shares of the utilities provider's stock worth $48,222,000 after acquiring an additional 53,496 shares during the last quarter. Institutional investors own 88.90% of the company's stock.

MYR Group Stock Performance

Shares of MYRG stock traded up $0.91 during trading hours on Tuesday, reaching $113.92. 32,983 shares of the company's stock were exchanged, compared to its average volume of 207,974. MYR Group Inc. has a fifty-two week low of $86.60 and a fifty-two week high of $172.73. 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 capitalization of $1.84 billion, a P/E ratio of 49.75 and a beta of 1.07. The business has a fifty day moving average price of $121.63 and a 200-day moving average price of $134.59.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MYRG shares. KeyCorp raised MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 target price on the stock in a research report on Friday, March 14th. Stifel Nicolaus decreased their target price on shares of MYR Group from $157.00 to $131.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Piper Sandler assumed coverage on shares of MYR Group in a report on Tuesday, April 8th. They issued a "neutral" rating and a $124.00 price objective for the company. Finally, Robert W. Baird cut their target price on MYR Group from $201.00 to $159.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $140.60.

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.