Boston Partners Takes Position in MYR Group Inc. (NASDAQ:MYRG)

Boston Partners bought a new position in shares of MYR Group Inc. (NASDAQ:MYRG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 99,517 shares of the utilities provider’s stock, valued at approximately $14,811,000.

Several other institutional investors also recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. purchased a new position in shares of MYR Group during the third quarter valued at about $24,145,000. BNP Paribas Financial Markets grew its holdings in MYR Group by 586.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 70,335 shares of the utilities provider’s stock valued at $7,190,000 after buying an additional 60,085 shares in the last quarter. Edgestream Partners L.P. bought a new stake in MYR Group in the 3rd quarter worth approximately $5,035,000. Congress Asset Management Co. boosted its position in shares of MYR Group by 111.3% during the 4th quarter. Congress Asset Management Co. now owns 84,827 shares of the utilities provider’s stock valued at $12,620,000 after acquiring an additional 44,675 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of MYR Group in the third quarter valued at $4,044,000. 88.90% of the stock is owned by hedge funds and other institutional investors.

MYR Group Trading Down 0.9 %

Shares of MYRG opened at $125.35 on Friday. MYR Group Inc. has a twelve month low of $86.60 and a twelve month high of $181.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $133.43 and its 200-day simple moving average is $131.98. The company has a market cap of $2.02 billion, a P/E ratio of 54.74 and a beta of 0.93.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MYRG shares. KeyCorp raised shares of MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 price target on the stock in a research note on Friday, March 14th. Stifel Nicolaus increased their price target on shares of MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, Robert W. Baird reduced their price objective on MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.