Corbyn Investment Management Inc. MD reduced its stake in shares of MYR Group Inc (NASDAQ:MYRG) by 15.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 275,287 shares of the utilities provider’s stock after selling 50,115 shares during the quarter. MYR Group accounts for approximately 3.3% of Corbyn Investment Management Inc. MD’s portfolio, making the stock its 11th largest holding. Corbyn Investment Management Inc. MD’s holdings in MYR Group were worth $9,836,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Louisiana State Employees Retirement System bought a new stake in shares of MYR Group in the fourth quarter worth about $254,000. Crossmark Global Holdings Inc. bought a new stake in shares of MYR Group in the third quarter worth about $207,000. Municipal Employees Retirement System of Michigan grew its stake in shares of MYR Group by 40.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 8,020 shares of the utilities provider’s stock worth $234,000 after purchasing an additional 2,290 shares during the last quarter. Sei Investments Co. grew its stake in shares of MYR Group by 50.9% in the third quarter. Sei Investments Co. now owns 8,229 shares of the utilities provider’s stock worth $240,000 after purchasing an additional 2,774 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of MYR Group by 11.4% in the second quarter. Royal Bank of Canada now owns 8,325 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 852 shares during the last quarter. 87.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MYR Group Inc (MYRG) opened at $32.89 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. MYR Group Inc has a 1-year low of $23.00 and a 1-year high of $43.77. The company has a market cap of $513.94, a PE ratio of 34.99 and a beta of 0.41.

Several analysts recently issued reports on the company. B. Riley reissued a “neutral” rating on shares of MYR Group in a research note on Wednesday, November 1st. ValuEngine cut MYR Group from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. KeyCorp reissued a “hold” rating on shares of MYR Group in a research note on Friday, November 24th. Zacks Investment Research raised MYR Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, BidaskClub cut MYR Group from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. MYR Group has a consensus rating of “Hold” and a consensus price target of $34.83.

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MYR Group Profile

MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.

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Institutional Ownership by Quarter for MYR Group (NASDAQ:MYRG)

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