Erste Asset Management GmbH raised its position in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 40.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,951 shares of the utilities provider's stock after buying an additional 8,891 shares during the period. Erste Asset Management GmbH owned about 0.19% of MYR Group worth $4,645,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. MCF Advisors LLC boosted its holdings in MYR Group by 470.0% in the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 141 shares during the period. Arcadia Investment Management Corp MI purchased a new position in MYR Group in the fourth quarter valued at $47,000. Smartleaf Asset Management LLC boosted its holdings in MYR Group by 697.6% in 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 during the period. GAMMA Investing LLC boosted its holdings in MYR Group by 27.0% in 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 period. Finally, ANTIPODES PARTNERS Ltd boosted its holdings in 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 during the period. 88.90% of the stock is currently owned by hedge funds and other institutional investors.
MYR Group Stock Up 1.7 %
MYR Group stock traded up $2.16 during midday trading on Wednesday, reaching $126.50. The company's stock had a trading volume of 292,326 shares, compared to its average volume of 197,321. 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 company has a market cap of $2.04 billion, a P/E ratio of 55.24 and a beta of 0.93. The business has a 50-day simple moving average of $134.22 and a 200-day simple moving average of $132.07.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. Robert W. Baird decreased their target price on MYR Group from $201.00 to $159.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Stifel Nicolaus lifted their target price on MYR Group from $153.00 to $172.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. Finally, KeyCorp upgraded 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 analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, MYR Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.00.
Read Our Latest Research Report on MYR Group
MYR Group Company Profile
(
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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