Ethic Inc. raised its holdings in MYR Group, Inc. (NASDAQ:MYRG – Free Report) by 79.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,862 shares of the utilities provider’s stock after purchasing an additional 1,270 shares during the quarter. Ethic Inc.’s holdings in MYR Group were worth $625,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its position in MYR Group by 12.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 418 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 47 shares during the last quarter. Signaturefd LLC raised its position in shares of MYR Group by 65.7% during the fourth quarter. Signaturefd LLC now owns 164 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 65 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of MYR Group by 8.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,300 shares of the utilities provider’s stock worth $270,000 after acquiring an additional 100 shares during the last quarter. Strs Ohio raised its position in shares of MYR Group by 1.8% during the third quarter. Strs Ohio now owns 5,600 shares of the utilities provider’s stock worth $1,165,000 after acquiring an additional 100 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of MYR Group by 212.2% during the fourth quarter. Farther Finance Advisors LLC now owns 153 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 104 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.
MYR Group Stock Down 1.2%
Shares of MYR Group stock opened at $467.46 on Friday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.01. MYR Group, Inc. has a 12 month low of $154.55 and a 12 month high of $479.96. The business has a fifty day simple moving average of $326.13 and a 200 day simple moving average of $269.10. The stock has a market cap of $7.28 billion, a PE ratio of 51.54 and a beta of 1.30.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on MYRG shares. Weiss Ratings restated a “buy (b-)” rating on shares of MYR Group in a research report on Tuesday, April 21st. Zacks Research upgraded MYR Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. Stifel Nicolaus set a $503.00 target price on MYR Group in a research report on Monday, May 4th. Cantor Fitzgerald boosted their target price on MYR Group from $311.00 to $564.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, The Goldman Sachs Group boosted their target price on MYR Group from $248.00 to $296.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $328.86.
View Our Latest Stock Report on MYRG
About MYR Group
MYR Group Inc (NASDAQ: MYRG) is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.
Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.
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