MYR Group (NASDAQ:MYRG) Price Target Lowered to $159.00 at Robert W. Baird

MYR Group (NASDAQ:MYRG - Free Report) had its price target reduced by Robert W. Baird from $201.00 to $159.00 in a research report released on Thursday,Benzinga reports. They currently have an outperform rating on the utilities provider's stock.

A number of other equities research analysts also recently commented on MYRG. Stifel Nicolaus raised their target price on MYR Group from $153.00 to $172.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. The Goldman Sachs Group raised their price objective on shares of MYR Group from $124.00 to $153.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Finally, StockNews.com upgraded shares of MYR Group from a "sell" rating to a "hold" rating in a research report on Monday, November 4th.

MYR Group Stock Performance

Shares of MYRG stock traded down $1.53 during trading hours on Thursday, reaching $121.19. 260,138 shares of the company's stock were exchanged, compared to its average volume of 197,743. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35. MYR Group has a 1 year low of $86.60 and a 1 year high of $181.02. The company has a market cap of $1.96 billion, a P/E ratio of 52.92 and a beta of 0.94. The company's 50 day moving average is $142.07 and its two-hundred day moving average is $130.80.

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Institutional Trading of MYR Group

Several large investors have recently bought and sold shares of MYRG. Wellington Management Group LLP purchased a new stake in shares of MYR Group in the 4th quarter worth about $60,217,000. Jacobs Levy Equity Management Inc. acquired a new position in MYR Group during the third quarter worth about $24,145,000. ACK Asset Management LLC purchased a new stake in shares of MYR Group in the fourth quarter valued at about $29,754,000. T. Rowe Price Investment Management Inc. grew its position in shares of MYR Group by 42.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 537,347 shares of the utilities provider's stock valued at $79,942,000 after purchasing an additional 159,302 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its stake in shares of MYR Group by 178.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 213,188 shares of the utilities provider's stock worth $21,794,000 after purchasing an additional 136,643 shares in the last quarter. Institutional investors and hedge funds own 88.90% of the company's stock.

About MYR Group

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.