Illinois Municipal Retirement Fund Sells 1,070 Shares of MYR Group Inc. (NASDAQ:MYRG)

Illinois Municipal Retirement Fund decreased its stake in shares of MYR Group Inc. (NASDAQ:MYRG) by 11.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,298 shares of the utilities provider’s stock after selling 1,070 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.05% of MYR Group worth $1,234,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MYRG. Jacobs Levy Equity Management Inc. bought a new stake in shares of MYR Group during the 3rd quarter valued at about $24,145,000. TimesSquare Capital Management LLC boosted its stake in shares of MYR Group by 178.5% during 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. BNP Paribas Financial Markets boosted its stake in shares of MYR Group by 586.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 70,335 shares of the utilities provider’s stock valued at $7,190,000 after purchasing an additional 60,085 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of MYR Group during the 3rd quarter valued at about $5,035,000. Finally, Congress Asset Management Co. boosted its stake in shares of MYR Group by 111.3% during the 4th quarter. Congress Asset Management Co. now owns 84,827 shares of the utilities provider’s stock valued at $12,620,000 after purchasing an additional 44,675 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

MYR Group Stock Up 2.3 %

Shares of MYR Group stock opened at $122.72 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market capitalization of $1.98 billion, a PE ratio of 53.59 and a beta of 0.94. MYR Group Inc. has a 52-week low of $86.60 and a 52-week high of $181.02. The company has a 50-day simple moving average of $142.07 and a two-hundred day simple moving average of $130.59.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MYRG shares. The Goldman Sachs Group lifted their target price on shares of MYR Group from $124.00 to $153.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus boosted their price objective on shares of MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird dropped their price objective on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, StockNews.com raised shares of MYR Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th.

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.