Neumeier Poma Investment Counsel LLC trimmed its stake in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,361 shares of the utilities provider's stock after selling 4,833 shares during the period. MYR Group comprises about 1.7% of Neumeier Poma Investment Counsel LLC's holdings, making the stock its 29th biggest holding. Neumeier Poma Investment Counsel LLC owned 0.72% of MYR Group worth $17,162,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of MYRG. KLP Kapitalforvaltning AS acquired a new stake in shares of MYR Group during the fourth quarter valued at approximately $759,000. Sei Investments Co. raised its stake in MYR Group by 15.3% during the 4th quarter. Sei Investments Co. now owns 27,190 shares of the utilities provider's stock valued at $4,045,000 after purchasing an additional 3,607 shares during the period. American Century Companies Inc. lifted its holdings in shares of MYR Group by 38.2% in the fourth quarter. American Century Companies Inc. now owns 331,840 shares of the utilities provider's stock valued at $49,368,000 after purchasing an additional 91,644 shares in the last quarter. Boston Partners purchased a new stake in MYR Group in the 4th quarter worth approximately $14,811,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of MYR Group by 9.2% during the 4th quarter. Advisors Asset Management Inc. now owns 24,301 shares of the utilities provider's stock valued at $3,615,000 after buying an additional 2,051 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on MYR Group from $153.00 to $172.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. KeyCorp raised shares of MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 target price for the company in a research report on Friday, March 14th. Finally, Robert W. Baird reduced their price target on MYR Group from $201.00 to $159.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, MYR Group has a consensus rating of "Moderate Buy" and an average target price of $155.00.
View Our Latest Stock Report on MYRG
MYR Group Stock Down 2.8 %
Shares of NASDAQ:MYRG opened at $113.09 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 49.38 and a beta of 0.93. The company has a 50 day moving average of $130.15 and a 200-day moving average of $133.96. MYR Group Inc. has a one year low of $86.60 and a one year high of $181.02.
About MYR Group
(
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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