Granite Investment Partners LLC Boosts Holdings in MYR Group Inc. (NASDAQ:MYRG)

Granite Investment Partners LLC increased its position in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 52.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,408 shares of the utilities provider's stock after purchasing an additional 14,975 shares during the period. Granite Investment Partners LLC owned approximately 0.27% of MYR Group worth $6,458,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd boosted 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 valued at $92,000 after buying an additional 72 shares in the last quarter. Tidal Investments LLC grew its stake in shares of MYR Group by 2.0% during the 3rd quarter. Tidal Investments LLC now owns 4,286 shares of the utilities provider's stock worth $438,000 after purchasing an additional 83 shares during the period. GAMMA Investing LLC lifted its stake 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 valued at $83,000 after purchasing an additional 118 shares during the period. MCF Advisors LLC boosted its holdings in MYR Group by 470.0% during the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider's stock worth $25,000 after buying an additional 141 shares in the last quarter. Finally, Morgan Dempsey Capital Management LLC increased its holdings in MYR Group by 17.5% in the fourth quarter. Morgan Dempsey Capital Management LLC now owns 1,317 shares of the utilities provider's stock valued at $196,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

MYR Group Trading Up 0.7 %

Shares of MYR Group stock traded up $0.79 during mid-day trading on Friday, hitting $114.70. 120,500 shares of the stock were exchanged, compared to its average volume of 209,042. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 50.09 and a beta of 1.07. MYR Group Inc. has a twelve month low of $86.60 and a twelve month high of $171.10. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $119.58 and a 200 day simple moving average of $134.39.

Analysts Set New Price Targets

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

About MYR Group

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.