MYR Group (NASDAQ:MYRG) Director Donald C.I. Lucky Sells 14,675 Shares of Stock

MYR Group, Inc. (NASDAQ:MYRG) Director Donald C.I. Lucky sold 14,675 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $449.53, for a total transaction of $6,596,852.75. Following the completion of the sale, the director directly owned 5,579 shares of the company’s stock, valued at $2,507,927.87. The trade was a 72.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

MYR Group Trading Up 2.3%

Shares of MYRG stock opened at $451.40 on Friday. MYR Group, Inc. has a 52-week low of $158.48 and a 52-week high of $484.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 1.31. The company has a 50-day simple moving average of $378.10 and a two-hundred day simple moving average of $291.70. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 49.77 and a beta of 1.32.

MYR Group (NASDAQ:MYRG) last issued its quarterly earnings data on Wednesday, April 29th. The utilities provider reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.90. MYR Group had a net margin of 3.71% and a return on equity of 22.14%. The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $932.45 million. During the same period in the prior year, the firm posted $1.45 EPS. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year. Research analysts anticipate that MYR Group, Inc. will post 10.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MYRG has been the subject of a number of research reports. Robert W. Baird set a $373.00 target price on shares of MYR Group in a research report on Thursday, April 30th. The Goldman Sachs Group increased their target price on shares of MYR Group from $248.00 to $296.00 and gave the company a “neutral” rating in a research report on Tuesday, March 3rd. Cantor Fitzgerald increased their target price on shares of MYR Group from $311.00 to $564.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Stifel Nicolaus set a $503.00 target price on shares of MYR Group in a research report on Monday, May 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of MYR Group in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $358.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MYRG. Farther Finance Advisors LLC grew its position in shares of MYR Group by 212.2% during the 4th quarter. Farther Finance Advisors LLC now owns 153 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 104 shares during the period. Parallel Advisors LLC lifted its stake in shares of MYR Group by 207.9% during the 1st quarter. Parallel Advisors LLC now owns 117 shares of the utilities provider’s stock valued at $33,000 after buying an additional 79 shares in the last quarter. Acumen Wealth Advisors LLC purchased a new stake in shares of MYR Group during the 4th quarter valued at approximately $35,000. Signaturefd LLC lifted its stake in shares of MYR Group by 65.7% during the 4th quarter. Signaturefd LLC now owns 164 shares of the utilities provider’s stock valued at $36,000 after buying an additional 65 shares in the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in shares of MYR Group by 271.2% during the 4th quarter. Hantz Financial Services Inc. now owns 219 shares of the utilities provider’s stock valued at $48,000 after buying an additional 160 shares in the last quarter. 88.90% of the stock is owned by institutional investors.

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.