Morgan Dempsey Capital Management LLC Increases Holdings in MYR Group Inc. (NASDAQ:MYRG)

Morgan Dempsey Capital Management LLC increased its stake in shares of MYR Group Inc. (NASDAQ:MYRG) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,317 shares of the utilities provider’s stock after buying an additional 196 shares during the quarter. Morgan Dempsey Capital Management LLC’s holdings in MYR Group were worth $196,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Creative Planning increased its stake in MYR Group by 193.0% during the third quarter. Creative Planning now owns 4,841 shares of the utilities provider’s stock worth $495,000 after acquiring an additional 3,189 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in MYR Group during the third quarter worth $116,000. US Bancorp DE increased its stake in MYR Group by 2,187.8% during the third quarter. US Bancorp DE now owns 5,422 shares of the utilities provider’s stock worth $554,000 after acquiring an additional 5,185 shares during the last quarter. Principal Financial Group Inc. increased its stake in MYR Group by 3.7% during the third quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider’s stock worth $44,113,000 after acquiring an additional 15,361 shares during the last quarter. Finally, Townsend & Associates Inc increased its stake in MYR Group by 5.8% during the third quarter. Townsend & Associates Inc now owns 103,976 shares of the utilities provider’s stock worth $10,629,000 after acquiring an additional 5,694 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 %

Shares of NASDAQ MYRG opened at $122.72 on Friday. MYR Group Inc. has a twelve month low of $86.60 and a twelve month high of $181.02. 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 stock has a fifty day simple moving average of $142.07 and a 200-day simple moving average of $130.59. The stock has a market capitalization of $1.98 billion, a PE ratio of 53.59 and a beta of 0.94.

Analyst Ratings Changes

Several research firms have issued reports on MYRG. Robert W. Baird cut their target price on MYR Group from $201.00 to $159.00 and set an “outperform” rating for the company in a research note on Thursday. StockNews.com raised MYR Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. The Goldman Sachs Group raised their target price on MYR Group from $124.00 to $153.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus raised their target price on MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th.

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.