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

Morgan Dempsey Capital Management LLC boosted its holdings in shares of MYR Group Inc. (NASDAQ:MYRG) by 17.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,317 shares of the utilities provider’s stock after purchasing 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 hedge funds also recently bought and sold shares of MYRG. Creative Planning boosted its position 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 purchasing an additional 3,189 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in MYR Group during the third quarter worth approximately $116,000. US Bancorp DE boosted its position 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 purchasing an additional 5,185 shares in the last quarter. Principal Financial Group Inc. boosted its position 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 purchasing an additional 15,361 shares in the last quarter. Finally, Townsend & Associates Inc boosted its position 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 purchasing an additional 5,694 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

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

MYR Group Stock Performance

NASDAQ MYRG opened at $122.72 on Friday. The company has a market cap of $1.98 billion, a PE ratio of 53.59 and a beta of 0.94. The stock’s 50 day simple moving average is $142.07 and its 200-day simple moving average is $130.59. MYR Group Inc. has a 1-year low of $86.60 and a 1-year high of $181.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35.

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.