Y Intercept Hong Kong Ltd Has $1.06 Million Stake in MYR Group Inc. (NASDAQ:MYRG)

Y Intercept Hong Kong Ltd lowered its holdings in shares of MYR Group Inc. (NASDAQ:MYRG) by 15.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,100 shares of the utilities provider’s stock after selling 1,306 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in MYR Group were worth $1,056,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MYRG. Creative Planning raised its holdings in MYR Group by 193.0% during the 3rd quarter. Creative Planning now owns 4,841 shares of the utilities provider’s stock worth $495,000 after buying an additional 3,189 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of MYR Group by 2.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 30,645 shares of the utilities provider’s stock worth $3,133,000 after acquiring an additional 728 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of MYR Group during the third quarter worth $116,000. US Bancorp DE lifted its position in MYR Group by 2,187.8% in the 3rd quarter. US Bancorp DE now owns 5,422 shares of the utilities provider’s stock valued at $554,000 after acquiring an additional 5,185 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in MYR Group by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider’s stock worth $44,113,000 after purchasing an additional 15,361 shares during the period. Institutional investors own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

MYRG has been the topic of several recent research reports. Robert W. Baird lifted their price target on MYR Group from $131.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their target price on MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group upped their price target on MYR Group from $124.00 to $153.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, StockNews.com upgraded shares of MYR Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th.

MYR Group Price Performance

Shares of NASDAQ MYRG opened at $125.63 on Thursday. MYR Group Inc. has a fifty-two week low of $86.60 and a fifty-two week high of $181.02. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 54.86 and a beta of 0.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35. The business has a 50-day moving average of $143.37 and a 200-day moving average of $130.28.

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.