Choreo LLC Sells 126 Shares of MYR Group Inc. (NASDAQ:MYRG)

Choreo LLC trimmed its position in shares of MYR Group Inc. (NASDAQ:MYRG) by 3.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,663 shares of the utilities provider’s stock after selling 126 shares during the quarter. Choreo LLC’s holdings in MYR Group were worth $545,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D lifted its position in shares of MYR Group by 66.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 19,161 shares of the utilities provider’s stock valued at $1,959,000 after purchasing an additional 7,655 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of MYR Group by 11.1% during the 3rd quarter. Fisher Asset Management LLC now owns 37,752 shares of the utilities provider’s stock valued at $3,859,000 after purchasing an additional 3,759 shares during the last quarter. Walleye Capital LLC raised its stake in shares of MYR Group by 422.6% during the 3rd quarter. Walleye Capital LLC now owns 43,985 shares of the utilities provider’s stock worth $4,497,000 after purchasing an additional 35,569 shares during the period. Principal Financial Group Inc. increased its holdings in MYR Group by 3.7% during 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. Finally, GAMMA Investing LLC grew 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 acquiring an additional 118 shares during the period. Institutional investors own 88.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MYRG. Robert W. Baird boosted their target price on MYR Group from $131.00 to $138.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their target price on shares of MYR Group from $124.00 to $153.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus upped their price target on shares of MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, StockNews.com upgraded shares of MYR Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, MYR Group has a consensus rating of “Moderate Buy” and an average target price of $157.00.

MYR Group Stock Down 3.7 %

MYRG stock opened at $141.40 on Wednesday. The stock has a 50-day simple moving average of $151.06 and a two-hundred day simple moving average of $129.16. MYR Group Inc. has a twelve month low of $86.60 and a twelve month high of $181.02. The firm has a market capitalization of $2.28 billion, a PE ratio of 61.75 and a beta of 0.94. 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 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.