MYR Group Inc. (NASDAQ:MYRG) Chairman William A. Koertner sold 50,000 shares of the firm’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $33.10, for a total value of $1,655,000.00. Following the completion of the sale, the chairman now directly owns 309,337 shares in the company, valued at $10,239,054.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of MYR Group Inc. (NASDAQ:MYRG) opened at 36.28 on Tuesday. The firm has a market capitalization of $582.80 million, a price-to-earnings ratio of 34.13 and a beta of 0.46. The stock’s 50 day moving average price is $30.49 and its 200-day moving average price is $27.04. MYR Group Inc. has a 52 week low of $17.77 and a 52 week high of $36.52.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. MYR Group had a return on equity of 6.91% and a net margin of 1.82%. The firm had revenue of $283.30 million for the quarter, compared to analysts’ expectations of $275.13 million. During the same quarter in the prior year, the firm earned $0.29 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts predict that MYR Group Inc. will post $1.17 earnings per share for the current year.

Insider Buying and Selling by Quarter for MYR Group (NASDAQ:MYRG)

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alambic Investment Management L.P. boosted its position in shares of MYR Group by 5.1% in the second quarter. Alambic Investment Management L.P. now owns 14,400 shares of the company’s stock worth $347,000 after buying an additional 700 shares in the last quarter. LSV Asset Management raised its stake in MYR Group by 36.8% in the second quarter. LSV Asset Management now owns 126,782 shares of the company’s stock worth $3,052,000 after buying an additional 34,122 shares during the last quarter. GSA Capital Partners LLP raised its stake in MYR Group by 195.3% in the second quarter. GSA Capital Partners LLP now owns 62,592 shares of the company’s stock worth $1,507,000 after buying an additional 41,395 shares during the last quarter. California Public Employees Retirement System raised its stake in MYR Group by 4.2% in the second quarter. California Public Employees Retirement System now owns 51,900 shares of the company’s stock worth $1,250,000 after buying an additional 2,100 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in MYR Group during the second quarter worth about $127,000. 87.79% of the stock is currently owned by hedge funds and other institutional investors.

MYRG has been the topic of several research analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $34.00 price objective on shares of MYR Group in a research note on Thursday, November 3rd. Zacks Investment Research raised MYR Group from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Thursday, October 6th. Maxim Group raised their price objective on MYR Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Robert W. Baird lowered MYR Group from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $27.00 to $30.00 in a research note on Friday, August 12th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. MYR Group currently has an average rating of “Buy” and an average price target of $30.67.

About MYR Group

MYR Group Inc is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Company performs construction services in two segments: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). T&D customers include investor-owned utilities, cooperatives, private developers government-funded utilities, independent power producers, independent transmission companies, industrial facility owners and other contractors.

5 Day Chart for NASDAQ:MYRG

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