MYR Group, Inc. $MYRG Shares Bought by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lifted its holdings in shares of MYR Group, Inc. (NASDAQ:MYRG) by 1.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 156,456 shares of the utilities provider’s stock after acquiring an additional 2,156 shares during the period. TimesSquare Capital Management LLC’s holdings in MYR Group were worth $32,548,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MAI Capital Management raised its stake in MYR Group by 44.8% during the second quarter. MAI Capital Management now owns 181 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 56 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of MYR Group in the 2nd quarter worth $34,000. Elevation Point Wealth Partners LLC purchased a new position in shares of MYR Group in the 2nd quarter worth $34,000. Salomon & Ludwin LLC acquired a new position in MYR Group in the third quarter valued at $34,000. Finally, First Horizon Corp purchased a new stake in MYR Group during the third quarter valued at about $47,000. 88.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MYRG. Stifel Nicolaus increased their target price on shares of MYR Group from $237.00 to $262.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Clear Str upgraded shares of MYR Group to a “strong-buy” rating in a report on Monday, December 15th. The Goldman Sachs Group increased their price target on MYR Group from $205.00 to $248.00 and gave the company a “neutral” rating in a report on Friday, November 14th. Zacks Research cut MYR Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, Weiss Ratings upgraded MYR Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $218.71.

MYR Group Stock Up 2.3%

Shares of NASDAQ MYRG opened at $273.95 on Friday. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 44.26 and a beta of 1.17. MYR Group, Inc. has a 1 year low of $97.72 and a 1 year high of $283.69. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.33 and a current ratio of 1.33. The stock’s 50-day simple moving average is $238.85 and its 200-day simple moving average is $214.49.

MYR Group Company Profile

MYR Group Inc (NASDAQ: MYRG) is a specialty electrical contractor that provides a broad array of construction, maintenance and emergency restoration services to utility, commercial, industrial and renewable energy customers. The company was formed in 1995 through the consolidation of several regional specialty contractors and has since expanded its capabilities to support complex transmission and distribution projects, substation installations, communication and wireless infrastructure, as well as renewable power interconnections.

Through a network of operating subsidiaries, MYR Group delivers turnkey solutions that include overhead and underground line construction, substation and switchgear installation, substation maintenance and testing, and storm restoration services.