6,841 Shares in MYR Group Inc. (NASDAQ:MYRG) Bought by Bryce Point Capital LLC

Bryce Point Capital LLC bought a new stake in shares of MYR Group Inc. (NASDAQ:MYRG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,841 shares of the utilities provider’s stock, valued at approximately $1,018,000.

Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP acquired a new stake in MYR Group during the 4th quarter worth about $60,217,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of MYR Group during the third quarter valued at approximately $24,145,000. Boston Partners acquired a new stake in shares of MYR Group during the fourth quarter valued at approximately $14,811,000. American Century Companies Inc. lifted its position in shares of MYR Group by 38.2% in the 4th quarter. American Century Companies Inc. now owns 331,840 shares of the utilities provider’s stock valued at $49,368,000 after acquiring an additional 91,644 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in MYR Group by 19.8% in the 4th quarter. Artisan Partners Limited Partnership now owns 324,139 shares of the utilities provider’s stock worth $48,222,000 after purchasing an additional 53,496 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on MYRG shares. KeyCorp upgraded MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 target price for the company in a report on Friday, March 14th. Robert W. Baird reduced their price objective 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. Finally, 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 note on Wednesday, December 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $155.00.

MYR Group Price Performance

MYRG opened at $119.63 on Thursday. The stock has a fifty day moving average price of $128.58 and a 200 day moving average price of $133.97. 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 1 year low of $86.60 and a 1 year high of $181.02. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 52.24 and a beta of 0.93.

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.