Mutual Advisors LLC Purchases Shares of 4,414 MYR Group, Inc. $MYRG

Mutual Advisors LLC acquired a new position in MYR Group, Inc. (NASDAQ:MYRG) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 4,414 shares of the utilities provider’s stock, valued at approximately $923,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. CWA Asset Management Group LLC acquired a new stake in MYR Group during the 3rd quarter worth about $1,506,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of MYR Group by 29.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 48,685 shares of the utilities provider’s stock worth $8,797,000 after buying an additional 11,107 shares during the period. HB Wealth Management LLC purchased a new position in shares of MYR Group in the second quarter worth approximately $224,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of MYR Group in the second quarter worth approximately $211,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of MYR Group by 22.4% during the second quarter. Russell Investments Group Ltd. now owns 75,878 shares of the utilities provider’s stock valued at $13,768,000 after acquiring an additional 13,889 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MYRG has been the subject of a number of recent analyst reports. Cantor Fitzgerald assumed coverage on shares of MYR Group in a research note on Friday, January 23rd. They issued an “overweight” rating and a $285.00 price objective for the company. Stifel Nicolaus lifted their price target on MYR Group from $237.00 to $262.00 and gave the company a “buy” rating in a report on Monday, January 26th. Clear Str raised MYR Group to a “strong-buy” rating in a research report on Monday, December 15th. The Goldman Sachs Group raised their price objective on MYR Group from $205.00 to $248.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Finally, Wall Street Zen raised MYR Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $218.71.

MYR Group Trading Down 5.8%

Shares of NASDAQ MYRG opened at $248.72 on Thursday. The business has a 50 day simple moving average of $232.77 and a 200 day simple moving average of $210.88. MYR Group, Inc. has a 52 week low of $97.72 and a 52 week high of $266.00. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of 40.18 and a beta of 1.17. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.33 and a current ratio of 1.33.

MYR Group Company Profile

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.