Huber Capital Management LLC Decreases Position in MYR Group Inc. (NASDAQ:MYRG)

Huber Capital Management LLC trimmed its holdings in shares of MYR Group Inc. (NASDAQ:MYRG) by 32.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,467 shares of the utilities provider’s stock after selling 1,208 shares during the period. Huber Capital Management LLC’s holdings in MYR Group were worth $367,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MYRG. Wellington Management Group LLP purchased a new stake in MYR Group during the 4th quarter valued at about $60,217,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of MYR Group during the third quarter valued at approximately $24,145,000. Boston Partners purchased a new stake in shares of MYR Group during the fourth quarter valued at approximately $14,811,000. American Century Companies Inc. grew its holdings in shares of MYR Group by 38.2% in the fourth quarter. American Century Companies Inc. now owns 331,840 shares of the utilities provider’s stock worth $49,368,000 after purchasing an additional 91,644 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its stake in shares of MYR Group by 19.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 324,139 shares of the utilities provider’s stock worth $48,222,000 after buying an additional 53,496 shares during the period. 88.90% of the stock is owned by institutional investors.

MYR Group Trading Up 5.1 %

NASDAQ:MYRG opened at $119.63 on Thursday. MYR Group Inc. has a 12 month low of $86.60 and a 12 month high of $181.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $128.58 and a 200-day moving average price of $133.97. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 52.24 and a beta of 0.93.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MYRG. Robert W. Baird cut their price target on shares of MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus raised their target price 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, KeyCorp upgraded MYR Group from a “sector weight” rating to an “overweight” rating and set a $136.00 price target on the stock in a report on Friday, March 14th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.00.

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.