Russell Investments Group Ltd. Grows Stock Position in MYR Group Inc. (NASDAQ:MYRG)

Russell Investments Group Ltd. lifted its holdings in shares of MYR Group Inc. (NASDAQ:MYRG) by 73.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 73,683 shares of the utilities provider’s stock after acquiring an additional 31,209 shares during the period. Russell Investments Group Ltd. owned approximately 0.46% of MYR Group worth $10,962,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. MCF Advisors LLC lifted its position in MYR Group by 470.0% during the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 141 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of MYR Group during the fourth quarter worth about $47,000. Smartleaf Asset Management LLC boosted its position in MYR Group by 697.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock valued at $49,000 after buying an additional 286 shares during the last quarter. GAMMA Investing LLC increased its holdings in 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 period. Finally, ANTIPODES PARTNERS Ltd raised its position in MYR Group by 13.2% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider’s stock worth $92,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. KeyCorp raised 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 report on Friday, March 14th. Stifel Nicolaus cut their price target on MYR Group from $157.00 to $131.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler initiated coverage on MYR Group in a report on Tuesday. They issued a “neutral” rating and a $124.00 price objective for the company. Finally, Robert W. Baird reduced their price target on 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.60.

MYR Group Price Performance

Shares of MYR Group stock opened at $111.86 on Friday. The firm has a market cap of $1.81 billion, a PE ratio of 48.85 and a beta of 1.07. MYR Group Inc. has a twelve month low of $86.60 and a twelve month high of $172.73. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $122.20 and a 200 day moving average price of $134.29.

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.