GSA Capital Partners LLP Cuts Stock Holdings in MYR Group, Inc. $MYRG

GSA Capital Partners LLP lowered its stake in shares of MYR Group, Inc. (NASDAQ:MYRG) by 46.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,865 shares of the utilities provider’s stock after selling 6,016 shares during the period. GSA Capital Partners LLP’s holdings in MYR Group were worth $1,428,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Salomon & Ludwin LLC purchased a new position in shares of MYR Group in the 3rd quarter worth $34,000. MAI Capital Management grew its position in MYR Group by 44.8% during the second quarter. MAI Capital Management now owns 181 shares of the utilities provider’s stock valued at $33,000 after buying an additional 56 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in MYR Group during the second quarter valued at approximately $34,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in MYR Group in the second quarter worth approximately $34,000. Finally, First Horizon Corp purchased a new position in shares of MYR Group during the 3rd quarter worth $47,000. 88.90% of the stock is currently owned by institutional investors.

MYR Group Trading Down 1.3%

Shares of NASDAQ:MYRG opened at $270.32 on Wednesday. MYR Group, Inc. has a 12-month low of $97.72 and a 12-month high of $283.69. The company has a market capitalization of $4.20 billion, a PE ratio of 43.67 and a beta of 1.17. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $240.54 and its 200-day simple moving average is $215.74.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MYRG shares. The Goldman Sachs Group raised their price objective on shares of MYR Group from $205.00 to $248.00 and gave the company a “neutral” rating in a research report on Friday, November 14th. Cantor Fitzgerald assumed coverage on MYR Group in a research note on Friday, January 23rd. They issued an “overweight” rating and a $285.00 price target for the company. Wall Street Zen upgraded shares of MYR Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 21st. Weiss Ratings raised shares of MYR Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 22nd. Finally, Stifel Nicolaus raised their price objective on MYR Group from $237.00 to $262.00 and gave the company a “buy” rating in a research report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, MYR Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.71.

MYR Group 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.