Erste Asset Management GmbH Grows Position in MYR Group Inc. (NASDAQ:MYRG)

Erste Asset Management GmbH raised its position in shares of MYR Group Inc. (NASDAQ:MYRG) by 40.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,951 shares of the utilities provider’s stock after purchasing an additional 8,891 shares during the quarter. Erste Asset Management GmbH’s holdings in MYR Group were worth $4,645,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd grew its holdings in MYR Group by 13.2% during 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 in the last quarter. Tidal Investments LLC grew its holdings in MYR Group by 2.0% during the 3rd quarter. Tidal Investments LLC now owns 4,286 shares of the utilities provider’s stock valued at $438,000 after buying an additional 83 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of MYR Group by 27.0% in the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock worth $83,000 after purchasing an additional 118 shares during the period. MCF Advisors LLC boosted its holdings in shares of MYR Group by 470.0% in the 4th quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 141 shares during the period. Finally, Morgan Dempsey Capital Management LLC boosted its holdings in shares of MYR Group by 17.5% in the 4th quarter. Morgan Dempsey Capital Management LLC now owns 1,317 shares of the utilities provider’s stock worth $196,000 after purchasing an additional 196 shares during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

MYR Group Price Performance

Shares of MYRG stock opened at $117.21 on Friday. MYR Group Inc. has a 52-week low of $86.60 and a 52-week high of $181.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market capitalization of $1.89 billion, a P/E ratio of 51.18 and a beta of 0.93. The stock has a 50 day moving average price of $135.18 and a 200 day moving average price of $131.31.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. 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. Robert W. Baird dropped their target price on MYR Group from $201.00 to $159.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Finally, KeyCorp upgraded MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 target price for the company in a report on Friday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.