MYR Group Inc. (NASDAQ:MYRG) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its stake in MYR Group Inc. (NASDAQ:MYRG) by 38.2% in the fourth quarter, HoldingsChannel reports. The fund owned 331,840 shares of the utilities provider’s stock after purchasing an additional 91,644 shares during the period. American Century Companies Inc.’s holdings in MYR Group were worth $49,368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of MYRG. Quest Partners LLC purchased a new position in shares of MYR Group during the 3rd quarter valued at approximately $223,000. Intech Investment Management LLC raised its position in shares of MYR Group by 153.5% in the third quarter. Intech Investment Management LLC now owns 10,378 shares of the utilities provider’s stock worth $1,061,000 after acquiring an additional 6,284 shares during the period. Charles Schwab Investment Management Inc. boosted its stake 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 acquiring an additional 17,580 shares in the last quarter. Fisher Asset Management LLC grew 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 acquiring an additional 3,759 shares during the period. Finally, Quantbot Technologies LP increased its stake in shares of MYR Group by 57.4% in the 3rd quarter. Quantbot Technologies LP now owns 19,366 shares of the utilities provider’s stock valued at $1,980,000 after purchasing an additional 7,060 shares in the last quarter. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. 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 research report on Friday, March 14th. Stifel Nicolaus lifted 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, Robert W. Baird reduced their price objective 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.00.

MYR Group Stock Performance

Shares of NASDAQ:MYRG opened at $120.97 on Thursday. 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 firm has a market capitalization of $1.95 billion, a PE ratio of 52.83 and a beta of 0.93. The business’s 50 day moving average price is $132.12 and its 200-day moving average price is $133.18.

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.