William A. Koertner Sells 11,768 Shares of MYR Group, Inc. (MYRG) Stock

MYR Group, Inc. (NASDAQ:MYRG) Director William A. Koertner sold 11,768 shares of the firm’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $39.15, for a total transaction of $460,717.20. Following the transaction, the director now directly owns 315,012 shares in the company, valued at $12,332,719.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

MYR Group opened at $38.71 on Friday, according to MarketBeat. MYR Group, Inc. has a 52-week low of $23.00 and a 52-week high of $39.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market cap of $632.84 million, a P/E ratio of 37.68 and a beta of 0.48.

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MYR Group (NASDAQ:MYRG) last posted its quarterly earnings data on Wednesday, May 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.17. MYR Group had a net margin of 1.77% and a return on equity of 6.06%. The business had revenue of $345.60 million during the quarter, compared to the consensus estimate of $320.64 million. During the same quarter last year, the company posted $0.07 earnings per share. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. equities research analysts anticipate that MYR Group, Inc. will post 1.95 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank increased its holdings in MYR Group by 5.5% during the first quarter. Swiss National Bank now owns 28,700 shares of the utilities provider’s stock worth $885,000 after buying an additional 1,500 shares during the last quarter. California Public Employees Retirement System increased its holdings in MYR Group by 4.6% during the fourth quarter. California Public Employees Retirement System now owns 44,951 shares of the utilities provider’s stock worth $1,606,000 after buying an additional 1,997 shares during the last quarter. US Bancorp DE increased its holdings in MYR Group by 9.8% during the fourth quarter. US Bancorp DE now owns 23,008 shares of the utilities provider’s stock worth $822,000 after buying an additional 2,049 shares during the last quarter. Citigroup Inc. increased its holdings in MYR Group by 34.1% during the first quarter. Citigroup Inc. now owns 8,228 shares of the utilities provider’s stock worth $254,000 after buying an additional 2,091 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in MYR Group by 7.3% during the fourth quarter. Guggenheim Capital LLC now owns 43,727 shares of the utilities provider’s stock worth $1,563,000 after buying an additional 2,958 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

MYRG has been the topic of a number of recent analyst reports. Robert W. Baird set a $40.00 price target on shares of MYR Group and gave the company a “buy” rating in a research report on Wednesday, March 7th. Canaccord Genuity raised their price target on shares of MYR Group from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, March 9th. Zacks Investment Research raised shares of MYR Group from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Wednesday, May 9th. ValuEngine raised shares of MYR Group from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, BidaskClub raised shares of MYR Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 12th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $35.83.

MYR Group Company 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 and the renewable energy industries.

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