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

TimesSquare Capital Management LLC increased its position in shares of MYR Group, Inc. (NASDAQ:MYRG) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,456 shares of the utilities provider’s stock after purchasing an additional 2,156 shares during the period. TimesSquare Capital Management LLC owned 1.01% of MYR Group worth $32,548,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Salomon & Ludwin LLC purchased a new stake in MYR Group during the 3rd quarter worth approximately $34,000. MAI Capital Management grew its holdings in shares of 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 last quarter. Elevation Point Wealth Partners LLC purchased a new position in MYR Group during the 2nd quarter worth approximately $34,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in MYR Group in the 2nd quarter valued at $34,000. Finally, First Horizon Corp acquired a new stake in MYR Group during the 3rd quarter worth $47,000. Institutional investors and hedge funds own 88.90% of the company’s stock.

MYR Group Stock Up 2.3%

MYRG stock opened at $273.95 on Friday. The company’s 50 day simple moving average is $238.85 and its 200-day simple moving average is $214.49. The firm has a market capitalization of $4.25 billion, a PE ratio of 44.26 and a beta of 1.17. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.33 and a quick ratio of 1.33. MYR Group, Inc. has a 12 month low of $97.72 and a 12 month high of $283.69.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MYRG. Cantor Fitzgerald initiated coverage on shares of MYR Group in a report on Friday, January 23rd. They issued an “overweight” rating and a $285.00 target price for the company. Wall Street Zen raised MYR Group from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 21st. Weiss Ratings upgraded MYR Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, January 22nd. Zacks Research lowered shares of MYR Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Finally, Clear Str upgraded shares of MYR Group to a “strong-buy” rating in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $218.71.

About MYR Group

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.