Proficio Capital Partners LLC Invests $1.88 Million in MYR Group Inc. (NASDAQ:MYRG)

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 13F filing with the SEC. The fund 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.

Several other institutional investors have also recently bought and sold shares of the stock. Tidal Investments LLC raised its position in MYR Group by 2.0% in 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 last quarter. GAMMA Investing LLC raised its position in shares of MYR Group by 27.0% during the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider's stock valued at $83,000 after acquiring an additional 118 shares during the last quarter. MCF Advisors LLC raised its position in shares of MYR Group by 470.0% during the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 141 shares during the last quarter. Rhumbline Advisers raised its position in shares of MYR Group by 0.5% during the 4th quarter. Rhumbline Advisers now owns 45,246 shares of the utilities provider's stock valued at $6,731,000 after acquiring an additional 216 shares during the last quarter. Finally, KBC Group NV raised its position in shares of MYR Group by 56.8% during the 4th quarter. KBC Group NV now owns 737 shares of the utilities provider's stock valued at $110,000 after acquiring an additional 267 shares during the last quarter. Institutional investors own 88.90% of the company's stock.

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MYR Group Trading Down 5.7 %

Shares of MYRG traded down $6.85 during trading hours on Friday, reaching $112.67. The stock had a trading volume of 565,516 shares, compared to its average volume of 189,386. The company has a quick ratio of 1.35, a current 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 firm has a 50-day moving average of $138.88 and a 200 day moving average of $131.37. The company has a market cap of $1.82 billion, a P/E ratio of 49.20 and a beta of 0.93.

Analysts Set New Price Targets

Several brokerages have commented on MYRG. Robert W. Baird dropped their target price on shares of 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 upped their target price on shares of MYR Group from $153.00 to $172.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th.

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.