Ironwood Investment Management LLC Buys 889 Shares of MYR Group Inc. (NASDAQ:MYRG)

Ironwood Investment Management LLC grew its stake in shares of MYR Group Inc. (NASDAQ:MYRG) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,776 shares of the utilities provider’s stock after buying an additional 889 shares during the quarter. MYR Group makes up 1.4% of Ironwood Investment Management LLC’s holdings, making the stock its 14th biggest holding. Ironwood Investment Management LLC’s holdings in MYR Group were worth $2,793,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of 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 buying an additional 141 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of MYR Group during the fourth quarter valued at $47,000. Smartleaf Asset Management LLC raised its stake in shares of MYR Group by 697.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 286 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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, ANTIPODES PARTNERS Ltd grew its stake in shares of MYR Group by 13.2% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider’s stock worth $92,000 after purchasing an additional 72 shares during the last quarter. 88.90% of the stock is currently owned by institutional investors and hedge funds.

MYR Group Stock Performance

Shares of MYRG stock opened at $117.21 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. MYR Group Inc. has a 52 week low of $86.60 and a 52 week high of $181.02. The firm has a 50 day moving average of $135.18 and a 200-day moving average of $131.31. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 51.18 and a beta of 0.93.

Analyst Upgrades and Downgrades

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

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.