Sei Investments Co. Boosts Stock Holdings in MYR Group Inc. (NASDAQ:MYRG)

Sei Investments Co. grew its stake in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,190 shares of the utilities provider's stock after buying an additional 3,607 shares during the period. Sei Investments Co. owned 0.17% of MYR Group worth $4,045,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in MYR Group by 8.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 233,055 shares of the utilities provider's stock worth $23,825,000 after acquiring an additional 17,580 shares during the last quarter. FMR LLC raised its stake in shares of MYR Group by 90.2% in the third quarter. FMR LLC now owns 2,336 shares of the utilities provider's stock worth $239,000 after purchasing an additional 1,108 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of MYR Group by 132.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,936 shares of the utilities provider's stock worth $2,140,000 after purchasing an additional 11,946 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of MYR Group during the third quarter worth about $4,044,000. Finally, Paloma Partners Management Co boosted its position in MYR Group by 198.3% in the third quarter. Paloma Partners Management Co now owns 5,965 shares of the utilities provider's stock valued at $610,000 after buying an additional 3,965 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

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MYR Group Price Performance

MYRG stock traded down $5.28 during mid-day trading on Friday, reaching $105.29. 253,501 shares of the company's stock were exchanged, compared to its average volume of 206,877. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 45.98 and a beta of 0.93. MYR Group Inc. has a 12-month low of $86.60 and a 12-month high of $181.02. The stock's 50 day moving average is $126.67 and its 200 day moving average is $133.85. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35.

Analyst Ratings Changes

A number of research firms have recently weighed in on MYRG. KeyCorp upgraded 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. Robert W. Baird cut their price target on MYR Group from $201.00 to $159.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. Finally, Stifel Nicolaus boosted their price objective on MYR Group from $153.00 to $172.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, MYR Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.00.

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.