Smartleaf Asset Management LLC Boosts Holdings in MYR Group Inc. (NASDAQ:MYRG)

Smartleaf Asset Management LLC grew its holdings in shares of MYR Group Inc. (NASDAQ:MYRG) by 697.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 327 shares of the utilities provider’s stock after acquiring an additional 286 shares during the quarter. Smartleaf Asset Management LLC’s holdings in MYR Group were worth $49,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. MCF Advisors LLC increased its stake in shares of MYR Group by 470.0% in the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock worth $25,000 after buying an additional 141 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of MYR Group in the fourth quarter worth $47,000. GAMMA Investing LLC increased 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 buying an additional 118 shares during the period. KBC Group NV increased its stake in shares of MYR Group by 56.8% in the fourth quarter. KBC Group NV now owns 737 shares of the utilities provider’s stock worth $110,000 after buying an additional 267 shares during the period. Finally, Millburn Ridgefield Corp purchased a new position in shares of MYR Group in the third quarter worth $130,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on MYRG shares. Stifel Nicolaus lifted their target price on shares of MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Robert W. Baird cut their price target on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th.

MYR Group Stock Performance

NASDAQ:MYRG opened at $106.08 on Tuesday. The stock has a market cap of $1.71 billion, a P/E ratio of 46.32 and a beta of 0.93. The firm’s fifty day simple moving average is $138.02 and its 200 day simple moving average is $131.39. MYR Group Inc. has a twelve month low of $86.60 and a twelve month 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.