MYR Group Inc. (NASDAQ:MYRG) Stake Lowered by Swiss National Bank

Swiss National Bank decreased its stake in MYR Group Inc. (NASDAQ:MYRG) by 1.2% during the 4th quarter, HoldingsChannel reports. The firm owned 32,500 shares of the utilities provider’s stock after selling 400 shares during the period. Swiss National Bank’s holdings in MYR Group were worth $4,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Avantax Advisory Services Inc. bought a new stake in MYR Group in the fourth quarter valued at $215,000. Amundi increased its holdings in shares of MYR Group by 179.3% in the 4th quarter. Amundi now owns 8,146 shares of the utilities provider’s stock worth $1,186,000 after acquiring an additional 5,229 shares during the period. Proficio Capital Partners LLC bought a new stake in MYR Group in the 4th quarter valued at about $1,881,000. Victory Capital Management Inc. boosted its stake in MYR Group by 2.4% during the 4th quarter. Victory Capital Management Inc. now owns 18,128 shares of the utilities provider’s stock valued at $2,697,000 after purchasing an additional 424 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in MYR Group by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 242,201 shares of the utilities provider’s stock worth $36,032,000 after purchasing an additional 9,146 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. KeyCorp raised MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 price target on the stock in a report on Friday, March 14th. 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. Finally, Stifel Nicolaus raised their price target on MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, MYR Group has an average rating of “Moderate Buy” and an average price target of $155.00.

MYR Group Price Performance

Shares of NASDAQ:MYRG opened at $128.52 on Tuesday. The stock’s 50 day moving average price is $132.89 and its 200 day moving average price is $132.98. 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 stock has a market cap of $2.07 billion, a price-to-earnings ratio of 56.12 and a beta of 0.93. MYR Group Inc. has a 12 month low of $86.60 and a 12 month high of $181.02.

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.