MYR Group Inc. (NASDAQ:MYRG) Shares Sold by Walleye Capital LLC

Walleye Capital LLC trimmed its holdings in shares of MYR Group Inc. (NASDAQ:MYRG) by 60.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,470 shares of the utilities provider’s stock after selling 26,515 shares during the period. Walleye Capital LLC owned approximately 0.11% of MYR Group worth $2,599,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MYRG. Allspring Global Investments Holdings LLC boosted its holdings in MYR Group by 77.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 54,405 shares of the utilities provider’s stock valued at $8,045,000 after purchasing an additional 23,760 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of MYR Group by 3.7% in the third quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider’s stock worth $44,113,000 after buying an additional 15,361 shares during the last quarter. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 118 shares during the period. Bank of New York Mellon Corp raised its position in MYR Group by 12.3% during the fourth quarter. Bank of New York Mellon Corp now owns 238,740 shares of the utilities provider’s stock valued at $35,517,000 after acquiring an additional 26,205 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in MYR Group by 51.1% in the fourth quarter. Truist Financial Corp now owns 3,402 shares of the utilities provider’s stock valued at $506,000 after acquiring an additional 1,150 shares during the period. 88.90% of the stock is owned by hedge funds and other institutional investors.

MYR Group Trading Up 0.7 %

MYRG stock opened at $114.70 on Friday. MYR Group Inc. has a 12-month low of $86.60 and a 12-month high of $171.10. The business’s 50-day moving average is $119.58 and its 200 day moving average is $134.39. 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 stock has a market cap of $1.85 billion, a price-to-earnings ratio of 50.09 and a beta of 1.07.

Analyst Ratings Changes

Several equities analysts recently issued reports on MYRG shares. Robert W. Baird decreased their target price on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. KeyCorp upgraded MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 target price on the stock in a research report on Friday, March 14th. Piper Sandler began coverage on MYR Group in a report on Tuesday, April 8th. They issued a “neutral” rating and a $124.00 price target for the company. Finally, Stifel Nicolaus dropped their price objective on MYR Group from $157.00 to $131.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.60.

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.