Canada Pension Plan Investment Board decreased its holdings in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,600 shares of the utilities provider's stock after selling 10,600 shares during the quarter. Canada Pension Plan Investment Board owned 0.07% of MYR Group worth $1,577,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. MCF Advisors LLC grew its position in MYR Group by 470.0% in the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 141 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in MYR Group in the 4th quarter worth about $47,000. Smartleaf Asset Management LLC lifted 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 valued at $49,000 after buying an additional 286 shares in the last quarter. GAMMA Investing LLC boosted its position in 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 buying an additional 118 shares during the period. Finally, ANTIPODES PARTNERS Ltd grew its stake in MYR Group by 13.2% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock worth $92,000 after acquiring an additional 72 shares in the last quarter. 88.90% of the stock is currently owned by hedge funds and other institutional investors.
MYR Group Stock Up 0.8 %
Shares of MYRG stock traded up $0.94 during mid-day trading on Tuesday, hitting $123.89. 21,388 shares of the stock traded hands, compared to its average volume of 209,852. The stock's fifty day moving average is $117.06 and its two-hundred day moving average is $135.12. 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 52-week low of $86.60 and a 52-week high of $171.10. The stock has a market cap of $2.00 billion, a P/E ratio of 54.16 and a beta of 1.07.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on MYR Group from $157.00 to $131.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Piper Sandler began coverage on MYR Group in a report on Tuesday, April 8th. They issued a "neutral" rating and a $124.00 target price for the company. The Goldman Sachs Group cut their price target on MYR Group from $164.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Robert W. Baird lowered their price objective on shares of MYR Group from $201.00 to $159.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. 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 research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, MYR Group currently has an average rating of "Moderate Buy" and an average price target of $139.00.
Read Our Latest Stock Analysis on MYRG
MYR Group 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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