Amundi Buys 5,229 Shares of MYR Group Inc. (NASDAQ:MYRG)

Amundi grew its stake in MYR Group Inc. (NASDAQ:MYRG) by 179.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,146 shares of the utilities provider’s stock after acquiring an additional 5,229 shares during the period. Amundi’s holdings in MYR Group were worth $1,186,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. MCF Advisors LLC grew its stake in MYR Group by 470.0% in the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 141 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of MYR Group in the 4th quarter worth $47,000. Smartleaf Asset Management LLC grew its position in shares of MYR Group by 697.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock worth $49,000 after buying an additional 286 shares in the last quarter. GAMMA Investing LLC increased its stake 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 valued at $83,000 after buying an additional 118 shares during the period. Finally, KBC Group NV raised its holdings in shares of MYR Group by 56.8% in the fourth quarter. KBC Group NV now owns 737 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 267 shares in the last quarter. 88.90% of the stock is owned by hedge funds and other institutional investors.

MYR Group Stock Performance

MYRG opened at $124.34 on Wednesday. The firm has a fifty day moving average price of $134.22 and a 200 day moving average price of $132.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35. MYR Group Inc. has a 1 year low of $86.60 and a 1 year high of $181.02. The stock has a market cap of $2.01 billion, a P/E ratio of 54.30 and a beta of 0.93.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MYRG. Robert W. Baird lowered their price target on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus upped their target price on MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, 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 report on Friday, March 14th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.