2 weeks Ago By ABMN Staff
Invesco Ltd. cut its position in MYR Group Inc. ( NASDAQ:MYRG – Free Report ) by 4.
7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 138,098 shares of the utilities provider’s stock after selling 6,780 shares during the quarter.
Invesco Ltd.’s holdings in MYR Group were worth $20,545,000 at the end of the most recent reporting period. A number of other large investors also recently modified their holdings of MYRG.
Wellington Management Group LLP acquired a new position in shares of MYR Group in the fourth quarter worth approximately $60,217,000. Boston Partners bought a new stake in MYR Group during the 4th quarter valued at $14,811,000. American Century Companies Inc.
raised its holdings in MYR Group by 38.2% during the fourth quarter. American Century Companies Inc.
now owns 331,840 shares of the utilities provider’s stock worth $49,368,000 after buying an additional 91,644 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of MYR Group by 19.8% in the fourth quarter.
Artisan Partners Limited Partnership now owns 324,139 shares of the utilities provider’s stock valued at $48,222,000 after buying an additional 53,496 shares in the last quarter. Finally, Congress Asset Management Co. raised its holdings in shares of MYR Group by 111.
3% in the 4th quarter. Congress Asset Management Co. now owns 84,827 shares of the utilities provider’s stock worth $12,620,000 after acquiring an additional 44,675 shares during the last quarter.
88.90% of the stock is currently owned by institutional investors. Analyst Ratings Changes Several research firms recently commented on MYRG.
Stifel Nicolaus dropped their price objective on MYR Group from $157.00 to $131.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th.
Piper Sandler initiated coverage on shares of MYR Group in a report on Tuesday, April 8th. They set a “neutral” rating and a $124.00 price objective on the stock.
KeyCorp upgraded shares of 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. Finally, Robert W.
Baird cut their target price on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th.
Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $140.60.
MYR Group Stock Performance Shares of MYRG opened at $114.70 on Friday. MYR Group Inc.
has a one year low of $86.60 and a one year high of $171.10.
The company has a 50-day simple moving average of $119.05 and a two-hundred day simple moving average of $134.68.
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 firm has a market capitalization of $1.85 billion, a PE ratio of 50.
09 and a beta of 1.07. MYR Group Profile ( Free Report ) 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. Featured Articles Want to see what other hedge funds are holding MYRG? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for MYR Group Inc. ( NASDAQ:MYRG – Free Report ). Receive News & Ratings for MYR Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MYR Group and related companies with MarketBeat.
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