Vanguard Group Inc. Has $162.25 Million Holdings in MYR Group Inc. (NASDAQ:MYRG)

Vanguard Group Inc. lowered its stake in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,090,585 shares of the utilities provider's stock after selling 35,724 shares during the period. Vanguard Group Inc. owned approximately 6.77% of MYR Group worth $162,246,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. MCF Advisors LLC raised its position in shares of MYR Group by 470.0% during the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider's stock worth $25,000 after purchasing an additional 141 shares during the period. Arcadia Investment Management Corp MI purchased a new position in MYR Group in the 4th quarter worth about $47,000. Smartleaf Asset Management LLC raised its holdings in MYR Group by 697.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider's stock worth $49,000 after buying an additional 286 shares during the period. GAMMA Investing LLC lifted its stake in MYR Group by 27.0% during the fourth quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider's stock valued at $83,000 after buying an additional 118 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd boosted its holdings in shares of MYR Group by 13.2% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock worth $92,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 88.90% of the company's stock.

MYR Group Stock Down 0.0 %

Shares of MYR Group stock traded down $0.03 on Friday, hitting $111.86. 152,061 shares of the company traded hands, compared to its average volume of 208,853. 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 12-month low of $86.60 and a 12-month high of $172.73. The company has a 50-day moving average price of $122.20 and a 200 day moving average price of $134.29. The company has a market cap of $1.81 billion, a PE ratio of 48.85 and a beta of 1.07.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. KeyCorp upgraded shares of MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 price target for the company in a research report on Friday, March 14th. Piper Sandler started coverage on MYR Group in a report on Tuesday. They issued a "neutral" rating and a $124.00 target price for the company. Stifel Nicolaus lowered their price target on MYR Group from $157.00 to $131.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Robert W. Baird reduced their price objective on MYR Group from $201.00 to $159.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $140.60.

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.