Walleye Capital LLC Sells 26,515 Shares of MYR Group Inc. (NASDAQ:MYRG)

Walleye Capital LLC cut its holdings in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 60.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,470 shares of the utilities provider's stock after selling 26,515 shares during the period. Walleye Capital LLC owned about 0.11% of MYR Group worth $2,599,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. MCF Advisors LLC lifted its holdings in shares of 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 purchasing an additional 141 shares during the period. Arcadia Investment Management Corp MI bought a new position in MYR Group during the 4th quarter worth $47,000. Smartleaf Asset Management LLC lifted its holdings in MYR Group by 697.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider's stock worth $49,000 after buying an additional 286 shares during the period. GAMMA Investing LLC lifted its holdings in MYR Group by 27.0% during the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider's stock worth $83,000 after buying an additional 118 shares during the period. Finally, ANTIPODES PARTNERS Ltd grew its position in shares of MYR Group by 13.2% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock valued at $92,000 after buying an additional 72 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

MYR Group Trading Up 4.2 %

Shares of MYRG stock traded up $4.71 during trading hours on Wednesday, hitting $117.99. 33,964 shares of the company were exchanged, compared to its average volume of 209,437. The company has a 50 day simple moving average of $118.10 and a two-hundred day simple moving average of $134.79. The firm has a market cap of $1.90 billion, a P/E ratio of 51.52 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 1.35. MYR Group Inc. has a fifty-two week low of $86.60 and a fifty-two week high of $171.10.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MYRG. Robert W. Baird lowered their price objective 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. Stifel Nicolaus lowered their price target on shares of MYR Group from $157.00 to $131.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. KeyCorp raised shares of MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 price objective on the stock in a research note on Friday, March 14th. Finally, Piper Sandler started coverage on shares of MYR Group in a research note on Tuesday, April 8th. They set a "neutral" rating and a $124.00 target price for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $140.60.

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.