Hillsdale Investment Management Inc. Has $7.62 Million Holdings in MYR Group, Inc. $MYRG

Hillsdale Investment Management Inc. raised its position in shares of MYR Group, Inc. (NASDAQ:MYRG) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,640 shares of the utilities provider’s stock after buying an additional 2,600 shares during the period. Hillsdale Investment Management Inc. owned about 0.24% of MYR Group worth $7,622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MYRG. Vanguard Group Inc. grew its position in MYR Group by 14.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,225,288 shares of the utilities provider’s stock worth $254,897,000 after acquiring an additional 157,157 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new stake in shares of MYR Group during the third quarter worth $2,418,000. TimesSquare Capital Management LLC grew its holdings in shares of MYR Group by 1.4% during the third quarter. TimesSquare Capital Management LLC now owns 156,456 shares of the utilities provider’s stock worth $32,548,000 after purchasing an additional 2,156 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of MYR Group by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 60,571 shares of the utilities provider’s stock valued at $12,601,000 after buying an additional 7,652 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of MYR Group by 2.9% in the third quarter. Illinois Municipal Retirement Fund now owns 8,495 shares of the utilities provider’s stock valued at $1,767,000 after buying an additional 242 shares during the last quarter. Institutional investors own 88.90% of the company’s stock.

MYR Group Price Performance

MYRG opened at $281.01 on Friday. The company has a fifty day moving average price of $243.38 and a two-hundred day moving average price of $217.08. The firm has a market capitalization of $4.36 billion, a PE ratio of 45.40 and a beta of 1.17. MYR Group, Inc. has a 52 week low of $97.72 and a 52 week high of $284.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.33 and a current ratio of 1.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Weiss Ratings raised shares of MYR Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, January 22nd. Cantor Fitzgerald assumed coverage on shares of MYR Group in a research note on Friday, January 23rd. They set an “overweight” rating and a $285.00 price target on the stock. The Goldman Sachs Group boosted their price objective on shares of MYR Group from $205.00 to $248.00 and gave the stock a “neutral” rating in a research report on Friday, November 14th. Zacks Research downgraded MYR Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Finally, Stifel Nicolaus lifted their target price on MYR Group from $237.00 to $262.00 and gave the company a “buy” rating in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, MYR Group presently has an average rating of “Moderate Buy” and an average target price 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.