Fisher Asset Management LLC Purchases 6,248 Shares of MYR Group Inc. (NASDAQ:MYRG)

Fisher Asset Management LLC raised its position in shares of MYR Group Inc. (NASDAQ:MYRG) by 16.6% during the fourth quarter, HoldingsChannel reports. The firm owned 44,000 shares of the utilities provider’s stock after purchasing an additional 6,248 shares during the period. Fisher Asset Management LLC’s holdings in MYR Group were worth $6,546,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Creative Planning raised its holdings in shares of MYR Group by 193.0% during the 3rd quarter. Creative Planning now owns 4,841 shares of the utilities provider’s stock valued at $495,000 after buying an additional 3,189 shares in the last quarter. US Bancorp DE grew 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 valued at $554,000 after acquiring an additional 5,185 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of 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 acquiring an additional 15,361 shares in the last quarter. Townsend & Associates Inc lifted its holdings in shares of MYR Group by 5.8% in the 3rd quarter. Townsend & Associates Inc now owns 103,976 shares of the utilities provider’s stock worth $10,629,000 after acquiring an additional 5,694 shares during the last quarter. Finally, TimesSquare Capital Management LLC boosted its stake in shares of MYR Group by 178.5% in the 3rd quarter. TimesSquare Capital Management LLC now owns 213,188 shares of the utilities provider’s stock valued at $21,794,000 after purchasing an additional 136,643 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Stifel Nicolaus lifted 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. Robert W. Baird reduced their price objective on MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th.

MYR Group Stock Performance

NASDAQ:MYRG opened at $120.71 on Wednesday. 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 Inc. has a fifty-two week low of $86.60 and a fifty-two week high of $181.02. The firm has a market cap of $1.95 billion, a PE ratio of 52.71 and a beta of 0.94. The business has a 50 day moving average price of $140.87 and a 200-day moving average price of $131.07.

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.