MYR Group Inc (NASDAQ:MYRG) Director William A. Koertner sold 5,377 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $35.00, for a total transaction of $188,195.00. Following the transaction, the director now directly owns 286,884 shares of the company’s stock, valued at approximately $10,040,940. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of NASDAQ MYRG opened at $36.67 on Friday. The firm’s 50-day moving average price is $30.79 and its 200-day moving average price is $28.16. The company has a current ratio of 1.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $612.76 million, a price-to-earnings ratio of 13.24 and a beta of 0.79. MYR Group Inc has a 12-month low of $16.33 and a 12-month high of $38.85.

MYR Group (NASDAQ:MYRG) last posted its quarterly earnings data on Wednesday, July 29th. The utilities provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.34. MYR Group had a net margin of 2.12% and a return on equity of 12.56%. The company had revenue of $513.05 million for the quarter, compared to analyst estimates of $503.07 million. On average, equities analysts predict that MYR Group Inc will post 2.45 EPS for the current fiscal year.

MYRG has been the subject of several research reports. ValuEngine downgraded shares of MYR Group from a “hold” rating to a “sell” rating in a report on Friday, May 8th. Zacks Investment Research downgraded shares of MYR Group from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. BidaskClub raised shares of MYR Group from a “hold” rating to a “buy” rating in a report on Saturday. B. Riley upped their target price on shares of MYR Group from $21.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Finally, TheStreet upgraded shares of MYR Group from a “c+” rating to a “b-” rating in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. MYR Group presently has a consensus rating of “Hold” and an average price target of $31.75.

Institutional investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its position in MYR Group by 17.3% in the 1st quarter. Parametric Portfolio Associates LLC now owns 56,575 shares of the utilities provider’s stock worth $1,482,000 after purchasing an additional 8,328 shares during the period. Invesco Ltd. increased its position in shares of MYR Group by 23.3% during the first quarter. Invesco Ltd. now owns 371,960 shares of the utilities provider’s stock worth $9,742,000 after acquiring an additional 70,319 shares during the period. AQR Capital Management LLC increased its position in shares of MYR Group by 7.5% during the first quarter. AQR Capital Management LLC now owns 152,961 shares of the utilities provider’s stock worth $4,006,000 after acquiring an additional 10,666 shares during the period. Goldman Sachs Group Inc. increased its position in shares of MYR Group by 44.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 57,951 shares of the utilities provider’s stock worth $1,889,000 after acquiring an additional 17,874 shares during the period. Finally, State Street Corp increased its position in shares of MYR Group by 9.1% during the first quarter. State Street Corp now owns 530,046 shares of the utilities provider’s stock worth $13,882,000 after acquiring an additional 44,354 shares during the period. 89.85% of the stock is currently owned by institutional investors.

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.

Featured Article: Bollinger Bands

Receive News & Ratings for MYR Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MYR Group and related companies with MarketBeat.com's FREE daily email newsletter.