TimesSquare Capital Management LLC Has $17.84 Million Stake in MYR Group Inc. (NASDAQ:MYRG)

TimesSquare Capital Management LLC reduced its position in MYR Group Inc. (NASDAQ:MYRG) by 43.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,933 shares of the utilities provider’s stock after selling 93,255 shares during the quarter. TimesSquare Capital Management LLC owned about 0.74% of MYR Group worth $17,842,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MYRG. Principal Financial Group Inc. grew its holdings in 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 acquiring an additional 15,361 shares during the last quarter. Swedbank AB grew its position in MYR Group by 6.0% during the third quarter. Swedbank AB now owns 267,000 shares of the utilities provider’s stock valued at $27,295,000 after buying an additional 15,000 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in MYR Group during the third quarter valued at about $24,145,000. Charles Schwab Investment Management Inc. lifted its holdings in MYR Group by 8.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 233,055 shares of the utilities provider’s stock valued at $23,825,000 after purchasing an additional 17,580 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in MYR Group by 387.9% during the third quarter. Assenagon Asset Management S.A. now owns 185,644 shares of the utilities provider’s stock valued at $18,978,000 after purchasing an additional 147,598 shares during the last quarter. 88.90% of the stock is owned by institutional investors.

MYR Group Stock Up 2.4 %

NASDAQ MYRG opened at $135.07 on Thursday. The company has a market capitalization of $2.18 billion, a P/E ratio of 58.98 and a beta of 0.94. The stock has a 50 day moving average price of $147.44 and a 200-day moving average price of $129.48. MYR Group Inc. has a one year low of $86.60 and a one year 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.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus raised 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. 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 report on Monday, November 4th. StockNews.com upgraded shares of MYR Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, Robert W. Baird raised their price objective on MYR Group from $131.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $157.00.

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.