Argent Trust Co Takes Position in MYR Group Inc. (NASDAQ:MYRG)

Argent Trust Co purchased a new position in MYR Group Inc. (NASDAQ:MYRG) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,727 shares of the utilities provider’s stock, valued at approximately $257,000.

A number of other hedge funds also recently bought and sold shares of MYRG. Allspring Global Investments Holdings LLC raised its holdings in MYR Group by 77.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 54,405 shares of the utilities provider’s stock worth $8,045,000 after acquiring an additional 23,760 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of MYR Group by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider’s stock worth $44,113,000 after purchasing an additional 15,361 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of MYR Group by 27.0% in the fourth quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock worth $83,000 after purchasing an additional 118 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of MYR Group by 12.3% during the fourth quarter. Bank of New York Mellon Corp now owns 238,740 shares of the utilities provider’s stock valued at $35,517,000 after purchasing an additional 26,205 shares in the last quarter. Finally, Truist Financial Corp boosted its position in shares of MYR Group by 51.1% during the fourth quarter. Truist Financial Corp now owns 3,402 shares of the utilities provider’s stock valued at $506,000 after buying an additional 1,150 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

MYR Group Trading Down 0.0 %

Shares of NASDAQ MYRG opened at $111.86 on Friday. MYR Group Inc. has a 1-year low of $86.60 and a 1-year high of $172.73. 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 business’s 50 day moving average is $122.20 and its two-hundred day moving average is $134.29. The stock has a market capitalization of $1.81 billion, a P/E ratio of 48.85 and a beta of 1.07.

Analyst Ratings Changes

Several research analysts have recently weighed in on MYRG shares. Robert W. Baird decreased their price objective on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus decreased their target price on shares of MYR Group from $157.00 to $131.00 and set a “buy” rating for the company in a research note on Wednesday. KeyCorp upgraded MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 price target on the stock in a research note on Friday, March 14th. Finally, Piper Sandler assumed coverage on MYR Group in a research report on Tuesday, April 8th. They set a “neutral” rating and a $124.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.60.

MYR Group 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.