Boothbay Fund Management LLC raised its position in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 55.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,468 shares of the utilities provider's stock after buying an additional 2,314 shares during the quarter. Boothbay Fund Management LLC's holdings in MYR Group were worth $962,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of MYRG. Susquehanna Fundamental Investments LLC purchased a new stake in MYR Group in the 4th quarter valued at $208,000. Two Sigma Securities LLC acquired a new position in MYR Group in the fourth quarter valued at $242,000. Voya Investment Management LLC raised its holdings in shares of MYR Group by 185.0% in the fourth quarter. Voya Investment Management LLC now owns 165,447 shares of the utilities provider's stock valued at $24,614,000 after buying an additional 107,403 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of MYR Group by 42.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 537,347 shares of the utilities provider's stock worth $79,942,000 after buying an additional 159,302 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of MYR Group by 8.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,716 shares of the utilities provider's stock worth $1,743,000 after buying an additional 929 shares during the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.
MYR Group Stock Performance
NASDAQ:MYRG opened at $125.63 on Wednesday. The firm's fifty day simple moving average is $117.02 and its 200-day simple moving average is $135.06. 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 stock has a market cap of $2.03 billion, a PE ratio of 54.86 and a beta of 1.07. MYR Group Inc. has a fifty-two week low of $86.60 and a fifty-two week high of $171.10.
Analyst Ratings Changes
Several research firms have commented on MYRG. 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. The Goldman Sachs Group cut their price target on MYR Group from $164.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Stifel Nicolaus lowered their price objective on shares of MYR Group from $157.00 to $131.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Piper Sandler initiated coverage on shares of MYR Group in a research report on Tuesday, April 8th. They set a "neutral" rating and a $124.00 price objective for the company. Finally, KeyCorp raised shares of MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 target price on the stock in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, MYR Group has a consensus rating of "Moderate Buy" and a consensus price target of $139.00.
Check Out Our Latest Report on MYRG
About MYR Group
(
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.
See Also
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