Sei Investments Co. Grows Position in MYR Group Inc. (NASDAQ:MYRG)

Sei Investments Co. boosted its stake in MYR Group Inc. (NASDAQ:MYRG) by 15.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,190 shares of the utilities provider’s stock after buying an additional 3,607 shares during the period. Sei Investments Co. owned approximately 0.17% of MYR Group worth $4,045,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. MCF Advisors LLC boosted its position 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 buying an additional 141 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in shares of MYR Group in the fourth quarter valued at $47,000. Smartleaf Asset Management LLC boosted its holdings 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 purchasing an additional 286 shares during the period. GAMMA Investing LLC raised its position in MYR Group by 27.0% in the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 118 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd boosted its stake in shares of MYR Group by 13.2% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider’s stock valued at $92,000 after buying an additional 72 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

MYR Group Trading Up 5.1 %

NASDAQ:MYRG opened at $119.63 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.93 billion, a P/E ratio of 52.24 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. The stock’s 50 day simple moving average is $128.58 and its 200-day simple moving average is $133.97.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. 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. Robert W. Baird dropped their price objective on MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Stifel Nicolaus upped their target price on MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $155.00.

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.