Bessemer Group Inc. raised its stake in MYR Group Inc (NASDAQ:MYRG) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,736 shares of the utilities provider’s stock after purchasing an additional 5,100 shares during the period. Bessemer Group Inc. owned 0.33% of MYR Group worth $1,784,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. NEXT Financial Group Inc boosted its stake in MYR Group by 74.3% in the 4th quarter. NEXT Financial Group Inc now owns 760 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 324 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in MYR Group during the 3rd quarter worth $44,000. Meeder Asset Management Inc. increased its position in MYR Group by 68.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 2,293 shares of the utilities provider’s stock worth $72,000 after buying an additional 934 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in shares of MYR Group during the second quarter worth $212,000. Finally, Royal Bank of Canada lifted its holdings in shares of MYR Group by 8.5% during the second quarter. Royal Bank of Canada now owns 7,923 shares of the utilities provider’s stock worth $296,000 after buying an additional 623 shares in the last quarter. 91.06% of the stock is currently owned by institutional investors.
MYRG has been the topic of several research reports. ValuEngine upgraded shares of MYR Group from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Zacks Investment Research lowered shares of MYR Group from a “hold” rating to a “sell” rating in a research report on Friday, January 10th. Finally, BidaskClub upgraded shares of MYR Group from a “strong sell” rating to a “sell” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $37.50.
NASDAQ MYRG opened at $30.62 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.54. The company has a market cap of $509.76 million, a price-to-earnings ratio of 14.38 and a beta of 0.88. The company has a 50 day moving average of $31.13 and a 200-day moving average of $31.70. MYR Group Inc has a 1-year low of $26.99 and a 1-year high of $38.14.
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.
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