Neumeier Poma Investment Counsel LLC Trims Stake in MYR Group Inc. (NASDAQ:MYRG)

Neumeier Poma Investment Counsel LLC lessened its position in shares of MYR Group Inc. (NASDAQ:MYRG) by 4.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 115,361 shares of the utilities provider’s stock after selling 4,833 shares during the quarter. MYR Group comprises 1.7% of Neumeier Poma Investment Counsel LLC’s investment portfolio, making the stock its 29th biggest holding. Neumeier Poma Investment Counsel LLC’s holdings in MYR Group were worth $17,162,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. MCF Advisors LLC grew its position in shares of MYR Group by 470.0% during the fourth quarter. MCF Advisors LLC now owns 171 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 141 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in MYR Group during the 4th quarter worth $47,000. Smartleaf Asset Management LLC grew its position in MYR Group by 697.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 286 shares during the last quarter. GAMMA Investing LLC increased its stake in MYR Group by 27.0% in the fourth quarter. GAMMA Investing LLC now owns 555 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 118 shares during the period. Finally, ANTIPODES PARTNERS Ltd raised its holdings in shares of MYR Group by 13.2% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 618 shares of the utilities provider’s stock valued at $92,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 88.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MYRG. KeyCorp raised 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. Stifel Nicolaus lifted their target price on MYR Group from $153.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Robert W. Baird dropped their target price on MYR Group from $201.00 to $159.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.00.

MYR Group Trading Down 6.2 %

NASDAQ MYRG opened at $120.97 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.95 billion, a P/E ratio of 52.83 and a beta of 0.93. MYR Group Inc. has a 52-week low of $86.60 and a 52-week high of $181.02. The firm has a 50-day moving average price of $132.12 and a 200 day moving average price of $133.18.

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.