Voya Investment Management LLC lifted its holdings in MYR Group Inc. (NASDAQ:MYRG - Free Report) by 185.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,447 shares of the utilities provider's stock after acquiring an additional 107,403 shares during the period. Voya Investment Management LLC owned 1.03% of MYR Group worth $24,614,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd increased its holdings in 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 acquiring an additional 72 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of MYR Group by 2.0% in the 3rd quarter. Tidal Investments LLC now owns 4,286 shares of the utilities provider's stock valued at $438,000 after purchasing an additional 83 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of 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 during the last quarter. MCF Advisors LLC grew its holdings in shares of MYR Group by 470.0% in 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 last quarter. Finally, Morgan Dempsey Capital Management LLC increased its stake in MYR Group by 17.5% in the 4th quarter. Morgan Dempsey Capital Management LLC now owns 1,317 shares of the utilities provider's stock worth $196,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 88.90% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on MYRG. The Goldman Sachs Group reduced their target price on shares of MYR Group from $164.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird dropped their target price on shares of MYR Group from $201.00 to $159.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. KeyCorp upgraded shares of MYR Group from a "sector weight" rating to an "overweight" rating and set a $136.00 price objective on the stock in a research note on Friday, March 14th. Stifel Nicolaus reduced their price objective on shares of MYR Group from $157.00 to $131.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Finally, Piper Sandler assumed coverage on MYR Group in a research report on Tuesday, April 8th. They set a "neutral" rating and a $124.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $139.00.
Check Out Our Latest Research Report on MYR Group
MYR Group Stock Performance
MYRG stock traded down $3.31 during midday trading on Wednesday, reaching $122.32. The stock had a trading volume of 240,828 shares, compared to its average volume of 211,482. 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 $1.97 billion, a PE ratio of 53.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a fifty day simple moving average of $117.02 and a two-hundred day simple moving average of $135.06.
MYR Group (NASDAQ:MYRG - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.27. MYR Group had a return on equity of 6.05% and a net margin of 1.08%. As a group, equities research analysts anticipate that MYR Group Inc. will post 1.16 EPS for the current year.
MYR Group Profile
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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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