Trillium Asset Management LLC Reduces Position in MYR Group Inc. (NASDAQ:MYRG)

Trillium Asset Management LLC decreased its position in MYR Group Inc. (NASDAQ:MYRG) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,271 shares of the utilities provider’s stock after selling 1,958 shares during the period. Trillium Asset Management LLC owned 0.76% of MYR Group worth $18,339,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. MCF Advisors LLC grew 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 buying an additional 141 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of MYR Group in the 4th quarter valued at approximately $47,000. Smartleaf Asset Management LLC grew its stake in shares of MYR Group by 697.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock valued at $49,000 after buying an additional 286 shares during the period. GAMMA Investing LLC grew its stake 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 valued at $83,000 after buying an additional 118 shares during the period. Finally, ANTIPODES PARTNERS Ltd grew its stake in shares of MYR Group by 13.2% in 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 during the period. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. KeyCorp raised shares of MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 price objective for the company in a research report on Friday, March 14th. Finally, Stifel Nicolaus increased 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. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.00.

MYR Group Stock Performance

NASDAQ:MYRG opened at $124.34 on Wednesday. The stock has a market capitalization of $2.01 billion, a P/E ratio of 54.30 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 quick ratio of 1.35 and a current ratio of 1.35. The company has a 50 day moving average price of $134.22 and a 200 day moving average price of $132.07.

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.