MYR Group Inc. (NASDAQ:MYRG) Director Jack L. Alexander sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $36.06, for a total value of $288,480.00. Following the completion of the sale, the director now directly owns 25,290 shares of the company’s stock, valued at $911,957.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

MYR Group Inc. (NASDAQ:MYRG) opened at 37.06 on Friday. The firm’s 50-day moving average price is $31.11 and its 200-day moving average price is $27.26. MYR Group Inc. has a 1-year low of $17.77 and a 1-year high of $37.91. The company has a market cap of $595.33 million, a price-to-earnings ratio of 34.86 and a beta of 0.46.

MYR Group (NASDAQ:MYRG) last announced its earnings results on Wednesday, November 2nd. The company reported $0.38 earnings per share for the quarter, hitting 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 the consensus estimate of $275.13 million. During the same quarter in the previous year, the business earned $0.29 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. Equities research analysts forecast that MYR Group Inc. will post $1.17 EPS for the current fiscal year.

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

Several institutional investors have recently made changes to their positions in the company. AJO LP increased its position in shares of MYR Group by 145.3% in the second quarter. AJO LP now owns 352,464 shares of the company’s stock worth $8,487,000 after buying an additional 208,753 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of MYR Group by 27.4% in the second quarter. Macquarie Group Ltd. now owns 539,756 shares of the company’s stock worth $12,997,000 after buying an additional 115,981 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of MYR Group by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,571,771 shares of the company’s stock worth $37,848,000 after buying an additional 91,135 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of MYR Group by 426.4% in the third quarter. Acadian Asset Management LLC now owns 98,847 shares of the company’s stock worth $2,976,000 after buying an additional 80,068 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new position in shares of MYR Group during the second quarter worth $1,838,000. Hedge funds and other institutional investors own 87.79% of the company’s stock.

A number of equities analysts have recently weighed in on the company. Zacks Investment Research lowered MYR Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 9th. Canaccord Genuity reiterated a “buy” rating and set a $34.00 target price on shares of MYR Group in a research note on Thursday, November 3rd. Robert W. Baird lowered MYR Group from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $27.00 to $30.00 in a research note on Friday, August 12th. Finally, Maxim Group increased their target price on MYR Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus 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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