Y Intercept Hong Kong Ltd Has $1.06 Million Stock Position in MYR Group Inc. (NASDAQ:MYRG)

Y Intercept Hong Kong Ltd cut its stake in shares of MYR Group Inc. (NASDAQ:MYRG) by 15.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,100 shares of the utilities provider’s stock after selling 1,306 shares during the period. Y Intercept Hong Kong Ltd’s holdings in MYR Group were worth $1,056,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MYRG. Principal Financial Group Inc. grew its holdings in MYR Group by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider’s stock valued at $44,113,000 after buying an additional 15,361 shares in the last quarter. Swedbank AB raised its stake in MYR Group by 6.0% in the 3rd quarter. Swedbank AB now owns 267,000 shares of the utilities provider’s stock worth $27,295,000 after purchasing an additional 15,000 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in MYR Group in the 3rd quarter valued at about $24,145,000. Charles Schwab Investment Management Inc. grew its position in shares of MYR Group by 8.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 233,055 shares of the utilities provider’s stock worth $23,825,000 after purchasing an additional 17,580 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its holdings in shares of MYR Group by 178.5% during the third quarter. TimesSquare Capital Management LLC now owns 213,188 shares of the utilities provider’s stock worth $21,794,000 after purchasing an additional 136,643 shares during the period. Institutional investors and hedge funds own 88.90% of the company’s stock.

MYR Group Trading Up 3.6 %

Shares of MYRG stock opened at $125.63 on Thursday. MYR Group Inc. has a fifty-two week low of $86.60 and a fifty-two week high of $181.02. The stock’s fifty day moving average price is $143.37 and its two-hundred day moving average price is $130.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market cap of $2.03 billion, a PE ratio of 54.86 and a beta of 0.94.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MYRG shares. StockNews.com raised MYR Group from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Stifel Nicolaus increased 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. The Goldman Sachs Group raised their price target on MYR Group from $124.00 to $153.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Robert W. Baird upped their price objective on shares of MYR Group from $131.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st.

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.