Arcadia Investment Management Corp MI Buys New Stake in MYR Group Inc. (NASDAQ:MYRG)

Arcadia Investment Management Corp MI purchased a new position in shares of MYR Group Inc. (NASDAQ:MYRG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 313 shares of the utilities provider’s stock, valued at approximately $47,000.

Several other hedge funds also recently bought and sold shares of the stock. MCF Advisors LLC boosted its stake in shares of MYR Group by 470.0% during the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 141 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 worth $83,000 after purchasing an additional 118 shares during the last quarter. KBC Group NV grew its holdings in shares of MYR Group by 56.8% during the fourth quarter. KBC Group NV now owns 737 shares of the utilities provider’s stock worth $110,000 after buying an additional 267 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of MYR Group during the third quarter worth about $116,000. Finally, Millburn Ridgefield Corp acquired a new position in shares of MYR Group in the third quarter valued at approximately $130,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MYRG. Robert W. Baird raised their target price 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. Stifel Nicolaus raised their price objective on MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. StockNews.com upgraded MYR Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th. Finally, The Goldman Sachs Group increased their target price on MYR Group from $124.00 to $153.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

MYR Group Stock Down 5.5 %

Shares of NASDAQ MYRG opened at $120.54 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.94 billion, a PE ratio of 52.64 and a beta of 0.94. The firm has a fifty day moving average of $145.75 and a 200-day moving average of $129.63. MYR Group Inc. has a 52-week low of $86.60 and a 52-week high of $181.02.

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.