Great Lakes Advisors LLC Lowers Stock Position in MYR Group Inc. (NASDAQ:MYRG)

Great Lakes Advisors LLC decreased its position in shares of MYR Group Inc. (NASDAQ:MYRG) by 16.1% in the fourth quarter, HoldingsChannel reports. The fund owned 18,153 shares of the utilities provider’s stock after selling 3,487 shares during the quarter. Great Lakes Advisors LLC’s holdings in MYR Group were worth $2,701,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. MCF Advisors LLC lifted its position in MYR Group by 470.0% during the fourth 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 stake in MYR Group during the fourth quarter valued at approximately $47,000. Smartleaf Asset Management LLC lifted its position in MYR Group by 697.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 286 shares during the last quarter. GAMMA Investing LLC lifted its position in 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 acquiring an additional 118 shares during the last quarter. Finally, KBC Group NV lifted its position in MYR Group by 56.8% during the fourth quarter. KBC Group NV now owns 737 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 267 shares during the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Robert W. Baird decreased their target price on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating for the company in a research 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 target on the stock in a research note on Friday. Finally, Stifel Nicolaus upped their price target on shares of MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, MYR Group currently has a consensus rating of “Moderate Buy” and an average price target of $155.00.

MYR Group Trading Up 5.0 %

Shares of MYR Group stock opened at $117.21 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. MYR Group Inc. has a 12-month low of $86.60 and a 12-month high of $181.02. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 51.18 and a beta of 0.93. The firm’s 50 day simple moving average is $135.18 and its two-hundred day simple moving average is $131.53.

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.