Maryland State Retirement & Pension System Sells 146 Shares of MYR Group Inc. (NASDAQ:MYRG)

Maryland State Retirement & Pension System cut its stake in MYR Group Inc. (NASDAQ:MYRG) by 2.6% in the fourth quarter, according to the company in its most recent 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 period. Maryland State Retirement & Pension System’s holdings in MYR Group were worth $808,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MYRG. Allspring Global Investments Holdings LLC lifted its stake in shares of MYR Group by 77.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 54,405 shares of the utilities provider’s stock valued at $8,045,000 after buying an additional 23,760 shares during the period. Fisher Asset Management LLC raised its holdings in MYR Group by 11.1% in the 3rd quarter. Fisher Asset Management LLC now owns 37,752 shares of the utilities provider’s stock valued at $3,859,000 after acquiring an additional 3,759 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of MYR Group by 3.7% in the 3rd 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 period. Walleye Capital LLC grew its holdings in shares of MYR Group by 422.6% during the 3rd quarter. Walleye Capital LLC now owns 43,985 shares of the utilities provider’s stock worth $4,497,000 after purchasing an additional 35,569 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 118 shares during the period. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on MYRG. 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, March 14th. Robert W. Baird decreased their target price 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. Finally, Stifel Nicolaus upped their target price 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $155.00.

MYR Group Stock Up 1.3 %

Shares of NASDAQ MYRG opened at $127.04 on Monday. MYR Group Inc. has a 52-week low of $86.60 and a 52-week high of $181.02. 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 business has a fifty day moving average of $133.11 and a two-hundred day moving average of $132.72. The stock has a market cap of $2.05 billion, a PE ratio of 55.48 and a beta of 0.93.

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.