Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $512,000 Stock Position in MYR Group Inc. (NASDAQ:MYRG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its position in shares of MYR Group Inc. (NASDAQ:MYRG) by 2.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,442 shares of the utilities provider’s stock after selling 87 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in MYR Group were worth $512,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MYRG. Allspring Global Investments Holdings LLC increased its position in shares of MYR Group by 77.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 54,405 shares of the utilities provider’s stock worth $8,045,000 after buying an additional 23,760 shares during the period. Fisher Asset Management LLC boosted its position in MYR Group by 11.1% during the third quarter. Fisher Asset Management LLC now owns 37,752 shares of the utilities provider’s stock valued at $3,859,000 after acquiring an additional 3,759 shares during the last quarter. Principal Financial Group Inc. grew its holdings in MYR Group by 3.7% during the 3rd quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider’s stock worth $44,113,000 after acquiring an additional 15,361 shares during the period. Walleye Capital LLC lifted its stake in shares of MYR Group by 422.6% in the 3rd quarter. Walleye Capital LLC now owns 43,985 shares of the utilities provider’s stock valued at $4,497,000 after purchasing an additional 35,569 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of MYR Group by 27.0% during the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 118 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

Analyst Upgrades and Downgrades

MYRG has been the subject of a number of research analyst reports. 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 dropped their target price on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a research 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 investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.00.

MYR Group Price Performance

Shares of MYRG opened at $115.67 on Friday. The business’s fifty day moving average is $131.47 and its 200 day moving average is $133.06. MYR Group Inc. has a 12-month low of $86.60 and a 12-month high of $181.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.87 billion, a P/E ratio of 50.51 and a beta of 0.93.

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.