New York State Common Retirement Fund Boosts Holdings in MYR Group Inc. (NASDAQ:MYRG)

New York State Common Retirement Fund boosted its holdings in shares of MYR Group Inc. (NASDAQ:MYRG) by 25.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,016 shares of the utilities provider’s stock after buying an additional 17,559 shares during the quarter. New York State Common Retirement Fund’s holdings in MYR Group were worth $12,797,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MCF Advisors LLC raised 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 valued at $25,000 after acquiring an additional 141 shares in the last quarter. GAMMA Investing LLC grew its stake in MYR Group by 27.0% during 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 in the last quarter. KBC Group NV increased its holdings in MYR Group by 56.8% during the 4th quarter. KBC Group NV now owns 737 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 267 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in MYR Group in the 3rd quarter valued at about $116,000. Finally, Millburn Ridgefield Corp purchased a new position in shares of MYR Group in the 3rd quarter valued at about $130,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on MYRG shares. Stifel Nicolaus upped 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. StockNews.com upgraded shares of MYR Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Robert W. Baird boosted their target price on shares of MYR Group from $131.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price target on MYR Group from $124.00 to $153.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

MYR Group Stock Down 1.6 %

MYRG stock opened at $118.55 on Tuesday. The stock has a market cap of $1.91 billion, a P/E ratio of 51.77 and a beta of 0.94. 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 twelve month low of $86.60 and a twelve month high of $181.02. The company’s 50 day moving average is $144.78 and its two-hundred day moving average is $130.17.

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.