Great Lakes Advisors LLC reduced its position in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 16.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 18,153 shares of the utilities provider's stock after selling 3,487 shares during the quarter. Great Lakes Advisors LLC owned about 0.11% of MYR Group worth $2,701,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in MYR Group by 3.7% during the 3rd quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider's stock valued at $44,113,000 after buying an additional 15,361 shares during the period. Swedbank AB raised its holdings in MYR Group by 6.0% during the 3rd quarter. Swedbank AB now owns 267,000 shares of the utilities provider's stock valued at $27,295,000 after buying an additional 15,000 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in MYR Group by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,201 shares of the utilities provider's stock valued at $36,032,000 after buying an additional 9,146 shares during the period. Bank of New York Mellon Corp raised its holdings in MYR Group by 12.3% during the 4th quarter. Bank of New York Mellon Corp now owns 238,740 shares of the utilities provider's stock valued at $35,517,000 after buying an additional 26,205 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in MYR Group during the 3rd quarter valued at $24,145,000. 88.90% of the stock is currently owned by institutional investors.
MYR Group Trading Up 1.7 %
MYRG stock traded up $2.16 during midday trading on Wednesday, reaching $126.50. The company's stock had a trading volume of 292,290 shares, compared to its average volume of 197,321. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 1.35. The stock 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 1 year low of $86.60 and a 1 year high of $181.02. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 55.24 and a beta of 0.93.
Analyst Ratings Changes
Several research firms recently weighed in on MYRG. Robert W. Baird decreased their price target on MYR Group from $201.00 to $159.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. KeyCorp upgraded MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 price target on the stock in a report on Friday, March 14th. Finally, Stifel Nicolaus increased their price target on MYR Group from $153.00 to $172.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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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