Victory Capital Management Inc. Has $2.70 Million Stock Position in MYR Group Inc. (NASDAQ:MYRG)

Victory Capital Management Inc. lifted its position in MYR Group Inc. (NASDAQ:MYRG) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,128 shares of the utilities provider’s stock after buying an additional 424 shares during the quarter. Victory Capital Management Inc. owned about 0.11% of MYR Group worth $2,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in MYR Group by 77.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 54,405 shares of the utilities provider’s stock valued at $8,045,000 after purchasing an additional 23,760 shares during the last quarter. Fisher Asset Management LLC raised its stake in MYR Group by 11.1% during the 3rd quarter. Fisher Asset Management LLC now owns 37,752 shares of the utilities provider’s stock valued at $3,859,000 after purchasing an additional 3,759 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in MYR Group by 66.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 19,161 shares of the utilities provider’s stock valued at $1,959,000 after purchasing an additional 7,655 shares during the last quarter. Principal Financial Group Inc. raised its stake in MYR Group by 3.7% during the 3rd quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider’s stock valued at $44,113,000 after purchasing an additional 15,361 shares during the last quarter. Finally, Walleye Capital LLC raised its stake in MYR Group by 422.6% during the 3rd quarter. Walleye Capital LLC now owns 43,985 shares of the utilities provider’s stock valued at $4,497,000 after purchasing an additional 35,569 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. KeyCorp upgraded shares of MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 target price for the company in a research note on Friday. Stifel Nicolaus upped their target price 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. Finally, Robert W. Baird dropped their price objective on shares of 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 research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.00.

MYR Group Stock Performance

MYR Group stock opened at $117.21 on Monday. 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 1 year low of $86.60 and a 1 year high of $181.02. The company has a market cap of $1.89 billion, a PE ratio of 51.18 and a beta of 0.93. The company’s 50-day moving average is $135.18 and its two-hundred day moving average is $131.76.

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.