Handelsbanken Fonder AB Purchases 1,000 Shares of MYR Group Inc. (NASDAQ:MYRG)

Handelsbanken Fonder AB lifted its position in shares of MYR Group Inc. (NASDAQ:MYRG) by 35.7% during the fourth quarter, Holdings Channel reports. The firm owned 3,800 shares of the utilities provider’s stock after acquiring an additional 1,000 shares during the period. Handelsbanken Fonder AB’s holdings in MYR Group were worth $565,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. MCF Advisors LLC raised its position 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 acquiring an additional 141 shares during the period. GAMMA Investing LLC raised its position in MYR Group by 27.0% in 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. KBC Group NV raised its position in MYR Group by 56.8% in the fourth quarter. KBC Group NV now owns 737 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 267 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in MYR Group in the third quarter worth about $116,000. Finally, Millburn Ridgefield Corp bought a new stake in MYR Group in the third quarter worth about $130,000. 88.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on MYRG. The Goldman Sachs Group lifted their price objective on shares of MYR Group from $124.00 to $153.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Stifel Nicolaus lifted their price objective on shares of MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird lowered their price objective 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. Finally, StockNews.com upgraded shares of MYR Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th.

MYR Group Price Performance

MYRG opened at $122.72 on Friday. The firm has a 50-day moving average price of $142.07 and a 200-day moving average price of $130.59. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 53.59 and a beta of 0.94. MYR Group Inc. has a twelve month low of $86.60 and a twelve 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.

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.