Insider Selling: William A. Koertner Unloads 10,000 Shares of MYR Group Stock (MYRG)
MYR Group (NASDAQ:MYRG) CEO William A. Koertner unloaded 10,000 shares of MYR Group stock on the open market in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $27.00, for a total value of $270,000.00. Following the transaction, the chief executive officer now directly owns 247,938 shares in the company, valued at approximately $6,694,326. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of MYR Group (NASDAQ:MYRG) traded down 0.63% during mid-day trading on Monday, hitting $26.99. 139,147 shares of the company’s stock traded hands. MYR Group has a one year low of $18.86 and a one year high of $27.30. The stock has a 50-day moving average of $25.20 and a 200-day moving average of $24.61. The company has a market cap of $575.1 million and a price-to-earnings ratio of 17.20.
MYR Group (NASDAQ:MYRG) last announced its earnings results on Wednesday, May 7th. The company reported $0.29 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.03. The company had revenue of $215.64 million for the quarter, compared to the consensus estimate of $207.49 million. During the same quarter last year, the company posted $0.32 earnings per share. MYR Group’s revenue was up 7.1% compared to the same quarter last year. Analysts expect that MYR Group will post $1.56 EPS for the current fiscal year.
Separately, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of MYR Group in a research note on Friday, May 9th. They now have a $28.00 price target on the stock, down previously from $29.00. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $26.20.
MYR Group Inc (NASDAQ:MYRG) is a holding company.
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