Charles Schwab Investment Management Inc. Increases Stake in MYR Group Inc. (NASDAQ:MYRG)

Charles Schwab Investment Management Inc. increased its stake in shares of MYR Group Inc. (NASDAQ:MYRG) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 242,201 shares of the utilities provider’s stock after acquiring an additional 9,146 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.50% of MYR Group worth $36,032,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MCF Advisors LLC raised its holdings in shares of MYR Group by 470.0% during the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 141 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in MYR Group during the fourth quarter valued at $47,000. Smartleaf Asset Management LLC raised its stake in MYR Group by 697.6% during 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 in the last quarter. GAMMA Investing LLC lifted its position in MYR Group by 27.0% during the fourth quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 118 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of 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 buying an additional 267 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

MYR Group Stock Performance

Shares of NASDAQ:MYRG opened at $117.21 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. MYR Group Inc. has a 12 month low of $86.60 and a 12 month high of $181.02. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 51.18 and a beta of 0.93. The firm’s 50-day moving average is $135.18 and its 200 day moving average is $131.53.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MYRG. Robert W. Baird decreased their target price on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. KeyCorp upgraded MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 price objective on the stock in a research report on Friday. Finally, Stifel Nicolaus lifted their target price on MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $155.00.

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.