MYR Group Inc. (NASDAQ:MYRG) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its holdings in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 73.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,683 shares of the utilities provider's stock after purchasing an additional 31,209 shares during the period. Russell Investments Group Ltd. owned 0.46% of MYR Group worth $10,962,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in MYR Group by 77.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 54,405 shares of the utilities provider's stock valued at $8,045,000 after purchasing an additional 23,760 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of MYR Group by 3.7% during the third quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider's stock worth $44,113,000 after acquiring an additional 15,361 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of 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 acquiring an additional 118 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in MYR Group by 12.3% in the fourth quarter. Bank of New York Mellon Corp now owns 238,740 shares of the utilities provider's stock valued at $35,517,000 after purchasing an additional 26,205 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in MYR Group by 51.1% during the 4th quarter. Truist Financial Corp now owns 3,402 shares of the utilities provider's stock worth $506,000 after purchasing an additional 1,150 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

MYR Group Stock Performance

Shares of NASDAQ:MYRG traded down $0.90 during trading on Thursday, hitting $113.02. 31,135 shares of the company traded hands, compared to its average volume of 208,319. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The business's fifty day moving average is $120.23 and its 200-day moving average is $134.30. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 49.40 and a beta of 1.07. MYR Group Inc. has a one year low of $86.60 and a one year high of $171.10.

MYR Group 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.