Louisiana State Employees Retirement System Sells 200 Shares of MYR Group Inc. (NASDAQ:MYRG)

Louisiana State Employees Retirement System lessened its holdings in MYR Group Inc. (NASDAQ:MYRG) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,800 shares of the utilities provider’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in MYR Group were worth $1,160,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MYRG. MCF Advisors LLC raised its holdings in MYR Group by 470.0% in the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 141 shares in the last quarter. GAMMA Investing LLC boosted its stake in MYR Group by 27.0% in the 4th quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock worth $83,000 after purchasing an additional 118 shares in the last quarter. KBC Group NV grew its holdings in shares of MYR Group by 56.8% during the fourth quarter. KBC Group NV now owns 737 shares of the utilities provider’s stock valued at $110,000 after buying an additional 267 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in MYR Group in the 3rd quarter worth $116,000. Finally, Millburn Ridgefield Corp purchased a new stake in MYR Group during the 3rd quarter valued at about $130,000. Institutional investors own 88.90% of the company’s stock.

MYR Group Stock Performance

NASDAQ MYRG opened at $134.00 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.35 and a quick ratio of 1.35. The stock’s 50 day simple moving average is $149.22 and its 200-day simple moving average is $129.03. The company has a market cap of $2.16 billion, a PE ratio of 58.52 and a beta of 0.94. MYR Group Inc. has a 1-year low of $86.60 and a 1-year high of $181.02.

Wall Street Analysts Forecast Growth

MYRG has been the topic of several recent research reports. StockNews.com raised shares of MYR Group from a “sell” rating to a “hold” rating in a report on Monday, November 4th. The Goldman Sachs Group raised their price objective on MYR Group from $124.00 to $153.00 and gave the company a “buy” rating in a report on Monday, November 4th. Robert W. Baird boosted their price target on shares of MYR Group from $131.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus increased their price objective on shares of MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.00.

MYR Group Profile

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.