Proficio Capital Partners LLC acquired a new position in MYR Group Inc. (NASDAQ:MYRG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 12,645 shares of the utilities provider's stock, valued at approximately $1,881,000. Proficio Capital Partners LLC owned about 0.08% of MYR Group at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC lifted its stake in MYR Group by 470.0% in 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 last quarter. Arcadia Investment Management Corp MI bought a new stake in MYR Group in the fourth quarter worth about $47,000. Smartleaf Asset Management LLC lifted its stake in MYR Group by 697.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider's stock worth $49,000 after purchasing an additional 286 shares during the last quarter. GAMMA Investing LLC lifted its stake in MYR Group by 27.0% in the fourth quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider's stock worth $83,000 after purchasing an additional 118 shares during the last quarter. Finally, KBC Group NV lifted its stake in MYR Group by 56.8% in the fourth quarter. KBC Group NV now owns 737 shares of the utilities provider's stock worth $110,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 88.90% of the company's stock.
Analyst Upgrades and Downgrades
MYRG has been the subject of several analyst reports. Robert W. Baird decreased their price objective on shares of MYR Group from $201.00 to $159.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. KeyCorp raised shares of MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 price target for the company in a research note on Friday, March 14th. Finally, Stifel Nicolaus lifted their price target on shares of MYR Group from $153.00 to $172.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.00.
Read Our Latest Report on MYRG
MYR Group Trading Up 1.3 %
Shares of MYR Group stock traded up $1.69 on Friday, hitting $127.04. 500,283 shares of the company traded hands, compared to its average volume of 199,596. The stock's 50 day moving average price is $133.11 and its 200-day moving average price is $132.43. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. MYR Group Inc. has a 52 week low of $86.60 and a 52 week high of $181.02. The company has a market cap of $2.05 billion, a PE ratio of 55.48 and a beta of 0.93.
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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