MYR Group Inc. (NASDAQ:MYRG) Shares Bought by Texas Permanent School Fund

Texas Permanent School Fund boosted its position in shares of MYR Group Inc. (NASDAQ:MYRGGet Rating) by 2.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 12,290 shares of the utilities provider’s stock after acquiring an additional 330 shares during the period. Texas Permanent School Fund’s holdings in MYR Group were worth $1,083,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truist Financial Corp grew its position in MYR Group by 2.0% during the first quarter. Truist Financial Corp now owns 6,768 shares of the utilities provider’s stock valued at $636,000 after buying an additional 130 shares during the period. Teacher Retirement System of Texas grew its position in shares of MYR Group by 5.3% in the first quarter. Teacher Retirement System of Texas now owns 3,467 shares of the utilities provider’s stock valued at $326,000 after purchasing an additional 174 shares during the period. Comerica Bank grew its position in shares of MYR Group by 1.2% in the first quarter. Comerica Bank now owns 14,778 shares of the utilities provider’s stock valued at $1,377,000 after purchasing an additional 175 shares during the period. Veritable L.P. grew its position in shares of MYR Group by 6.5% in the first quarter. Veritable L.P. now owns 3,331 shares of the utilities provider’s stock valued at $313,000 after purchasing an additional 203 shares during the period. Finally, Legend Financial Advisors Inc. grew its position in shares of MYR Group by 5.4% in the first quarter. Legend Financial Advisors Inc. now owns 4,139 shares of the utilities provider’s stock valued at $412,000 after purchasing an additional 212 shares during the period. Institutional investors and hedge funds own 87.57% of the company’s stock.

MYR Group Stock Performance

NASDAQ:MYRG opened at $97.14 on Friday. The company’s 50-day moving average price is $89.16 and its 200-day moving average price is $89.87. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.61 billion, a P/E ratio of 20.89 and a beta of 1.05. MYR Group Inc. has a twelve month low of $74.77 and a twelve month high of $121.22.

Insider Transactions at MYR Group

In other MYR Group news, COO Tod M. Cooper sold 4,733 shares of MYR Group stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $97.00, for a total transaction of $459,101.00. Following the transaction, the chief operating officer now directly owns 32,052 shares of the company’s stock, valued at $3,109,044. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MYRG shares. KeyCorp upgraded shares of MYR Group from a “sector weight” rating to an “overweight” rating and set a $99.00 target price on the stock in a research report on Friday, October 28th. Stifel Nicolaus lifted their target price on shares of MYR Group from $101.00 to $110.00 in a research report on Tuesday, August 2nd. StockNews.com assumed coverage on shares of MYR Group in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Robert W. Baird raised shares of MYR Group from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $92.00 to $95.00 in a research note on Friday, October 28th.

MYR Group Company Profile

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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, renewable power facilities, and limited gas construction services, as well as emergency restoration services in response to hurricane, ice, or other storm related damages.

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Institutional Ownership by Quarter for MYR Group (NASDAQ:MYRG)

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