MYR Group (NASDAQ:MYRG) Price Target Cut to $159.00 by Analysts at Robert W. Baird

MYR Group (NASDAQ:MYRG) had its price objective decreased by Robert W. Baird from $201.00 to $159.00 in a research note released on Thursday,Benzinga reports. Robert W. Baird currently has an outperform rating on the utilities provider’s stock.

A number of other brokerages have also recently commented on MYRG. The Goldman Sachs Group lifted their price objective on shares of MYR Group from $124.00 to $153.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Stifel Nicolaus boosted their price objective on MYR Group from $153.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, StockNews.com raised MYR Group from a “sell” rating to a “hold” rating in a research note on Monday, November 4th.

MYR Group Stock Down 4.7 %

NASDAQ MYRG opened at $120.00 on Thursday. The stock has a 50 day moving average price of $142.68 and a 200-day moving average price of $130.21. MYR Group has a one year low of $86.60 and a one year high of $181.02. 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 capitalization of $1.93 billion, a P/E ratio of 52.40 and a beta of 0.94.

Institutional Trading of MYR Group

Several institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of MYR Group by 77.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 54,405 shares of the utilities provider’s stock worth $8,045,000 after buying an additional 23,760 shares during the period. Fisher Asset Management LLC grew its position in MYR Group by 11.1% in 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 last quarter. State of New Jersey Common Pension Fund D increased its stake in MYR Group by 66.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 19,161 shares of the utilities provider’s stock worth $1,959,000 after purchasing an additional 7,655 shares during the period. Principal Financial Group Inc. lifted its position in shares of MYR Group by 3.7% during the third quarter. Principal Financial Group Inc. now owns 431,502 shares of the utilities provider’s stock worth $44,113,000 after purchasing an additional 15,361 shares during the last quarter. Finally, Walleye Capital LLC boosted its stake in shares of MYR Group by 422.6% during the third quarter. Walleye Capital LLC now owns 43,985 shares of the utilities provider’s stock valued at $4,497,000 after purchasing an additional 35,569 shares during the period. Institutional investors own 88.90% of the company’s stock.

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.