MYR Group Inc. (NASDAQ:MYRG) Shares Sold by Swiss National Bank

Swiss National Bank lowered its holdings in MYR Group Inc. (NASDAQ:MYRG) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,500 shares of the utilities provider’s stock after selling 400 shares during the period. Swiss National Bank owned approximately 0.20% of MYR Group worth $4,835,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MYRG. MCF Advisors LLC increased its holdings in MYR Group by 470.0% in the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 141 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of MYR Group in the fourth quarter valued at about $47,000. Smartleaf Asset Management LLC raised its holdings in shares of MYR Group by 697.6% during the 4th 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 period. GAMMA Investing LLC lifted its position in MYR Group by 27.0% during the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock worth $83,000 after acquiring an additional 118 shares in the last quarter. Finally, KBC Group NV boosted its holdings in MYR Group by 56.8% in the 4th quarter. KBC Group NV now owns 737 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 267 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

MYRG has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. KeyCorp upgraded 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. Finally, Robert W. Baird lowered their target price on MYR Group from $201.00 to $159.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, MYR Group has a consensus rating of “Moderate Buy” and an average price target of $155.00.

MYR Group Trading Up 1.2 %

NASDAQ MYRG opened at $128.52 on Tuesday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 56.12 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35. MYR Group Inc. has a 12 month low of $86.60 and a 12 month high of $181.02. The company’s fifty day moving average price is $132.89 and its two-hundred day moving average price is $132.98.

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.