2,010 Shares in MYR Group Inc. (NASDAQ:MYRG) Acquired by Vestcor Inc

Vestcor Inc acquired a new stake in MYR Group Inc. (NASDAQ:MYRG) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,010 shares of the utilities provider’s stock, valued at approximately $299,000.

Other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC increased its stake 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 valued at $25,000 after purchasing an additional 141 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in MYR Group in the fourth quarter valued at about $47,000. Smartleaf Asset Management LLC raised its stake 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 acquiring an additional 286 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of MYR Group by 27.0% in the fourth quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock worth $83,000 after acquiring an additional 118 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of 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 purchasing an additional 267 shares in the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

MYR Group Trading Up 2.8 %

MYRG opened at $120.50 on Tuesday. 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 Inc. has a fifty-two week low of $86.60 and a fifty-two week high of $181.02. The company’s 50 day moving average price is $134.60 and its two-hundred day moving average price is $131.90. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 52.62 and a beta of 0.93.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. KeyCorp upgraded shares of MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 price target for the company in a report on Friday. Finally, Robert W. Baird dropped their price target on 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.