F M Investments LLC Sells 24,195 Shares of MYR Group Inc. (NASDAQ:MYRG)

F M Investments LLC decreased its stake in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 62.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,667 shares of the utilities provider's stock after selling 24,195 shares during the period. F M Investments LLC owned 0.09% of MYR Group worth $2,182,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MYRG. ANTIPODES PARTNERS Ltd increased its stake 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 worth $92,000 after purchasing an additional 72 shares in the last quarter. Tidal Investments LLC boosted its holdings in MYR Group by 2.0% in the 3rd quarter. Tidal Investments LLC now owns 4,286 shares of the utilities provider's stock worth $438,000 after buying an additional 83 shares during the period. GAMMA Investing LLC grew its stake in MYR Group by 27.0% in the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider's stock valued at $83,000 after buying an additional 118 shares in the last quarter. MCF Advisors LLC raised its holdings in 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 acquiring an additional 141 shares during the period. Finally, Morgan Dempsey Capital Management LLC lifted its position in shares of MYR Group by 17.5% during the fourth quarter. Morgan Dempsey Capital Management LLC now owns 1,317 shares of the utilities provider's stock worth $196,000 after acquiring an additional 196 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MYRG. Stifel Nicolaus reduced their price target on 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 MYR Group in a report on Tuesday, April 8th. They set a "neutral" rating and a $124.00 target price for the company. Robert W. Baird lowered their price target on shares of MYR Group from $201.00 to $159.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Finally, KeyCorp raised shares of MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 price objective for the company in a research note on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, MYR Group presently has a consensus rating of "Moderate Buy" and an average price target of $140.60.

MYR Group Price Performance

Shares of MYRG stock traded up $0.18 during trading on Thursday, hitting $114.09. The company had a trading volume of 39,211 shares, compared to its average volume of 208,353. MYR Group Inc. has a 52 week low of $86.60 and a 52 week high of $171.10. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 49.64 and a beta of 1.07. 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's 50-day moving average is $120.23 and its two-hundred day moving average is $134.30.

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.