Yousif Capital Management LLC Trims Holdings in MYR Group Inc. (NASDAQ:MYRG)

Yousif Capital Management LLC lowered its holdings in shares of MYR Group Inc. (NASDAQ:MYRG) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,150 shares of the utilities provider’s stock after selling 266 shares during the period. Yousif Capital Management LLC’s holdings in MYR Group were worth $915,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Inspire Investing LLC boosted its position in shares of MYR Group by 55.8% in the 3rd quarter. Inspire Investing LLC now owns 4,035 shares of the utilities provider’s stock worth $412,000 after purchasing an additional 1,445 shares in the last quarter. Creative Planning boosted its holdings in MYR Group by 193.0% in the third quarter. Creative Planning now owns 4,841 shares of the utilities provider’s stock worth $495,000 after acquiring an additional 3,189 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in MYR Group by 44.5% in the third quarter. Vontobel Holding Ltd. now owns 6,440 shares of the utilities provider’s stock worth $658,000 after acquiring an additional 1,984 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of MYR Group by 2.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 30,645 shares of the utilities provider’s stock worth $3,133,000 after acquiring an additional 728 shares during the last quarter. Finally, Jade Capital Advisors LLC bought a new position in shares of MYR Group during the third quarter valued at $2,045,000. Institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

MYRG has been the topic of several recent analyst reports. StockNews.com raised shares of MYR Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. The Goldman Sachs Group increased their price target on shares of MYR Group from $124.00 to $153.00 and gave the company a “buy” rating in a report on Monday, November 4th. Robert W. Baird boosted their price objective on shares of MYR Group from $131.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus increased their target price on MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $157.00.

MYR Group Stock Performance

Shares of MYRG stock opened at $134.00 on Friday. The firm has a market capitalization of $2.16 billion, a PE ratio of 58.52 and a beta of 0.94. The company has a 50 day moving average price of $149.22 and a 200-day moving average price of $129.18. MYR Group Inc. has a 52 week low of $86.60 and a 52 week high of $181.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15.

About MYR Group

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.