Maryland State Retirement & Pension System Has $808,000 Holdings in MYR Group Inc. (NASDAQ:MYRG)

Maryland State Retirement & Pension System decreased its holdings in shares of MYR Group Inc. (NASDAQ:MYRG) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,429 shares of the utilities provider’s stock after selling 146 shares during the quarter. Maryland State Retirement & Pension System’s holdings in MYR Group were worth $808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. ANTIPODES PARTNERS Ltd grew its holdings in MYR Group by 13.2% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider’s stock worth $92,000 after acquiring an additional 72 shares during the period. Tidal Investments LLC grew its stake in shares of MYR Group by 2.0% during the third quarter. Tidal Investments LLC now owns 4,286 shares of the utilities provider’s stock worth $438,000 after purchasing an additional 83 shares during the period. GAMMA Investing LLC increased its holdings in MYR Group by 27.0% in the fourth quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 118 shares during the last quarter. MCF Advisors LLC lifted its stake in MYR Group by 470.0% in the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock valued at $25,000 after buying an additional 141 shares during the period. Finally, Morgan Dempsey Capital Management LLC lifted its stake in MYR Group by 17.5% in the fourth quarter. Morgan Dempsey Capital Management LLC now owns 1,317 shares of the utilities provider’s stock valued at $196,000 after buying an additional 196 shares during the period. 88.90% of the stock is owned by institutional investors.

MYR Group Price Performance

NASDAQ MYRG opened at $127.04 on Monday. 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 stock has a market cap of $2.05 billion, a price-to-earnings ratio of 55.48 and a beta of 0.93. The business has a 50 day simple moving average of $133.11 and a 200 day simple moving average of $132.72. MYR Group Inc. has a 52-week low of $86.60 and a 52-week high of $181.02.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MYRG. Stifel Nicolaus upped their price target on MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. KeyCorp raised shares of MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 target price for the company in a research note on Friday, March 14th. Finally, Robert W. Baird reduced their price target on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MYR Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.00.

MYR Group Profile

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.