Great Lakes Advisors LLC Sells 3,487 Shares of MYR Group Inc. (NASDAQ:MYRG)

Great Lakes Advisors LLC trimmed its position in shares of MYR Group Inc. (NASDAQ:MYRG) by 16.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,153 shares of the utilities provider’s stock after selling 3,487 shares during the period. Great Lakes Advisors LLC owned about 0.11% of MYR Group worth $2,701,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Tidal Investments LLC grew its holdings in MYR Group by 2.0% during the 3rd quarter. Tidal Investments LLC now owns 4,286 shares of the utilities provider’s stock valued at $438,000 after purchasing an additional 83 shares during the last quarter. GAMMA Investing LLC grew its holdings in MYR Group by 27.0% during the 4th 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 grew its holdings in MYR Group by 470.0% during the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 141 shares during the last quarter. Morgan Dempsey Capital Management LLC grew its holdings in MYR Group by 17.5% during the 4th quarter. Morgan Dempsey Capital Management LLC now owns 1,317 shares of the utilities provider’s stock valued at $196,000 after purchasing an additional 196 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in MYR Group by 0.5% in the 4th quarter. Rhumbline Advisers now owns 45,246 shares of the utilities provider’s stock valued at $6,731,000 after buying an additional 216 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MYRG shares. Robert W. Baird lowered their price objective 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. Stifel Nicolaus boosted their price objective on shares of MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, KeyCorp raised shares of MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 price objective for the company in a research report on Friday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. 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 Price Performance

Shares of MYRG opened at $117.21 on Friday. The company has a 50 day moving average price of $135.18 and a 200-day moving average price of $131.53. MYR Group Inc. has a fifty-two week low of $86.60 and a fifty-two week high of $181.02. The stock has a market capitalization of $1.89 billion, a PE ratio of 51.18 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 1.35.

MYR Group Company 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.