Robert W. Baird Cuts MYR Group (NASDAQ:MYRG) Price Target to $159.00

MYR Group (NASDAQ:MYRG) had its price objective reduced by Robert W. Baird from $201.00 to $159.00 in a research note released on Thursday morning,Benzinga reports. They currently have an outperform rating on the utilities provider’s stock.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com raised shares of MYR Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Stifel Nicolaus raised their target price on shares of MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group raised their target price on shares of MYR Group from $124.00 to $153.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

MYR Group Stock Performance

Shares of NASDAQ MYRG opened at $122.72 on Thursday. The company has a market cap of $1.98 billion, a PE ratio of 53.59 and a beta of 0.94. MYR Group has a 12 month low of $86.60 and a 12 month 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. The company has a 50-day simple moving average of $142.07 and a 200-day simple moving average of $130.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. MCF Advisors LLC lifted its position in MYR Group by 470.0% during 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 in the last quarter. Arcadia Investment Management Corp MI acquired a new position in MYR Group during the fourth quarter valued at approximately $47,000. Smartleaf Asset Management LLC lifted its position in MYR Group by 697.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock valued at $49,000 after buying an additional 286 shares in the last quarter. GAMMA Investing LLC lifted its position in 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 buying an additional 118 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd lifted its position in MYR Group by 13.2% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider’s stock valued at $92,000 after buying an additional 72 shares in the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

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.