MYR Group Inc. (NASDAQ:MYRG) Shares Bought by Capital World Investors

Capital World Investors boosted its holdings in shares of MYR Group Inc. (NASDAQ:MYRG - Free Report) by 90.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,267 shares of the utilities provider's stock after acquiring an additional 66,719 shares during the quarter. Capital World Investors owned about 0.87% of MYR Group worth $20,868,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MYRG. MCF Advisors LLC lifted its stake in shares of 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 purchasing an additional 141 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of MYR Group in the 4th quarter valued at $47,000. Smartleaf Asset Management LLC lifted its stake in shares of MYR Group by 697.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider's stock valued at $49,000 after purchasing an additional 286 shares during the last quarter. GAMMA Investing LLC lifted 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 purchasing an additional 118 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd lifted its stake in shares of MYR Group by 13.2% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider's stock valued at $92,000 after purchasing an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company's stock.

MYR Group Trading Up 2.3 %

MYRG traded up $2.77 during mid-day trading on Friday, hitting $123.43. 145,622 shares of the stock were exchanged, compared to its average volume of 210,734. The firm's fifty day moving average is $117.30 and its two-hundred day moving average is $135.09. MYR Group Inc. has a 1-year low of $86.60 and a 1-year high of $171.10. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.99 billion, a PE ratio of 53.90 and a beta of 1.07.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Piper Sandler assumed coverage on MYR Group in a research note on Tuesday, April 8th. They issued a "neutral" rating and a $124.00 price target on the stock. The Goldman Sachs Group decreased 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. KeyCorp raised MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 target price on the stock in a research note on Friday, March 14th. Stifel Nicolaus decreased their target price on MYR Group from $157.00 to $131.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, Robert W. Baird decreased their target price on MYR Group from $201.00 to $159.00 and set an "outperform" rating on the stock 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $139.00.

About MYR Group

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.