AlphaQuest LLC Has $225,000 Holdings in MYR Group Inc. (NASDAQ:MYRG)

AlphaQuest LLC trimmed its holdings in MYR Group Inc. (NASDAQ:MYRG) by 30.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,515 shares of the utilities provider’s stock after selling 671 shares during the period. AlphaQuest LLC’s holdings in MYR Group were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. MCF Advisors LLC raised its holdings in MYR Group by 470.0% in the 4th 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. Arcadia Investment Management Corp MI bought a new position in shares of MYR Group in the fourth quarter worth $47,000. Smartleaf Asset Management LLC lifted its position in MYR Group by 697.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 286 shares during the period. 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 worth $83,000 after purchasing an additional 118 shares during the period. Finally, KBC Group NV increased its holdings in MYR Group by 56.8% in the 4th quarter. KBC Group NV now owns 737 shares of the utilities provider’s stock valued at $110,000 after buying an additional 267 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MYRG shares. Robert W. Baird cut their price target on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. KeyCorp raised MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 target price on the stock in a report on Friday. Finally, Stifel Nicolaus boosted their price target on MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, MYR Group has a consensus rating of “Moderate Buy” and a consensus price target of $155.00.

MYR Group Stock Performance

Shares of MYR Group stock opened at $117.21 on Friday. The company’s 50 day moving average price is $135.18 and its two-hundred day moving average price is $131.53. The firm has a market capitalization of $1.89 billion, a P/E ratio of 51.18 and a beta of 0.93. MYR Group Inc. has a fifty-two week low of $86.60 and a fifty-two week high of $181.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35.

MYR Group Company 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.