Advisors Asset Management Inc. Has $3.62 Million Stock Position in MYR Group Inc. (NASDAQ:MYRG)

Advisors Asset Management Inc. lifted its holdings in shares of MYR Group Inc. (NASDAQ:MYRG) by 9.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,301 shares of the utilities provider’s stock after buying an additional 2,051 shares during the period. Advisors Asset Management Inc. owned about 0.15% of MYR Group worth $3,615,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in shares of MYR Group by 3.7% during the 3rd quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider’s stock worth $44,113,000 after buying an additional 15,361 shares in the last quarter. Swedbank AB raised its holdings in shares of MYR Group by 6.0% during the 3rd quarter. Swedbank AB now owns 267,000 shares of the utilities provider’s stock worth $27,295,000 after buying an additional 15,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in MYR Group by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,201 shares of the utilities provider’s stock worth $36,032,000 after acquiring an additional 9,146 shares during the last quarter. Bank of New York Mellon Corp grew its position in MYR Group by 12.3% during the 4th quarter. Bank of New York Mellon Corp now owns 238,740 shares of the utilities provider’s stock worth $35,517,000 after acquiring an additional 26,205 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in MYR Group during the 3rd quarter worth $24,145,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MYRG. KeyCorp upgraded MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 price objective on the stock in a research report on Friday, March 14th. Stifel Nicolaus boosted their price objective on MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, 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 report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, MYR Group presently has a consensus rating of “Moderate Buy” and an average price target of $155.00.

MYR Group Trading Down 0.9 %

NASDAQ MYRG opened at $125.35 on Friday. The business’s 50-day moving average price is $133.43 and its two-hundred day moving average price is $131.98. MYR Group Inc. has a 12 month low of $86.60 and a 12 month high of $181.02. The firm has a market capitalization of $2.02 billion, a PE ratio of 54.74 and a beta of 0.93. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15.

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.