TimesSquare Capital Management LLC trimmed its position in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 43.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,933 shares of the utilities provider's stock after selling 93,255 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.74% of MYR Group worth $17,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. MCF Advisors LLC lifted its holdings 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 buying an additional 141 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of MYR Group by 27.0% in 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 in the last quarter. KBC Group NV raised its stake in shares of MYR Group by 56.8% in 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 in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of MYR Group in the 3rd quarter valued at approximately $116,000. Finally, Millburn Ridgefield Corp bought a new position in shares of MYR Group in the 3rd quarter valued at approximately $130,000. 88.90% of the stock is currently owned by institutional investors and hedge funds.
MYR Group Stock Performance
Shares of MYRG traded down $8.17 on Friday, reaching $119.34. 113,904 shares of the stock traded hands, compared to its average volume of 180,629. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 52.35 and a beta of 0.94. 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 Inc. has a 12 month low of $86.60 and a 12 month high of $181.02. The stock's 50-day moving average price is $146.65 and its 200-day moving average price is $129.46.
Analyst Upgrades and Downgrades
MYRG has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price objective on MYR Group from $153.00 to $172.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. StockNews.com raised MYR Group from a "sell" rating to a "hold" rating in a research note on Monday, November 4th. Robert W. Baird raised their price objective on MYR Group from $131.00 to $138.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price objective on MYR Group from $124.00 to $153.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, MYR Group presently has an average rating of "Moderate Buy" and an average price target of $157.00.
Read Our Latest Report on MYRG
MYR Group Company Profile
(
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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