Erste Asset Management GmbH Acquires 8,891 Shares of MYR Group Inc. (NASDAQ:MYRG)

Erste Asset Management GmbH raised its holdings in MYR Group Inc. (NASDAQ:MYRG) by 40.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,951 shares of the utilities provider’s stock after buying an additional 8,891 shares during the quarter. Erste Asset Management GmbH owned about 0.19% of MYR Group worth $4,645,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. MCF Advisors LLC grew its position in shares of MYR Group by 470.0% in the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock worth $25,000 after buying an additional 141 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of MYR Group in the 4th quarter worth approximately $47,000. Smartleaf Asset Management LLC grew its position in shares of MYR Group by 697.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock worth $49,000 after buying an additional 286 shares during the last quarter. GAMMA Investing LLC grew its position in shares of MYR Group by 27.0% in the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock worth $83,000 after buying an additional 118 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd boosted its position in shares of 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 purchasing an additional 72 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors.

MYR Group Trading Up 5.0 %

MYR Group stock opened at $117.21 on Friday. MYR Group Inc. has a 12 month low of $86.60 and a 12 month high of $181.02. The business’s fifty day simple moving average is $135.18 and its two-hundred day simple moving average is $131.31. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 51.18 and a beta of 0.93.

Analyst Upgrades and Downgrades

MYRG has been the topic of several research reports. Stifel Nicolaus lifted their price target on MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird dropped 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, February 27th. Finally, KeyCorp upgraded MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 price target on the stock in a research report on Friday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $155.00.

MYR Group 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.