MYR Group, Inc. (NASDAQ:MYRG) VP Gerald B. Jr. Engen sold 1,210 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $31.01, for a total transaction of $37,522.10. Following the sale, the vice president now directly owns 68,185 shares of the company’s stock, valued at approximately $2,114,416.85. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of MYR Group, Inc. (NASDAQ MYRG) traded down 0.84% during trading on Tuesday, reaching $30.72. 54,299 shares of the company traded hands. The stock has a market capitalization of $506.08 million, a PE ratio of 24.77 and a beta of 0.35. MYR Group, Inc. has a 12-month low of $21.84 and a 12-month high of $43.77. The firm’s 50-day moving average is $30.07 and its 200-day moving average is $36.81.

MYR Group (NASDAQ:MYRG) last announced its earnings results on Wednesday, May 3rd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by $0.22. MYR Group had a net margin of 1.74% and a return on equity of 8.08%. The company had revenue of $300.13 million for the quarter, compared to the consensus estimate of $300.97 million. On average, equities analysts predict that MYR Group, Inc. will post $1.37 earnings per share for the current fiscal year.

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Several equities analysts recently commented on MYRG shares. Zacks Investment Research raised shares of MYR Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday. TheStreet downgraded shares of MYR Group from a “b-” rating to a “c” rating in a research note on Tuesday, May 30th. FBR & Co reissued an “outperform” rating and issued a $37.00 price objective (down previously from $45.00) on shares of MYR Group in a research note on Tuesday, May 16th. Finally, Robert W. Baird raised shares of MYR Group from a “neutral” rating to an “outperform” rating and set a $41.00 price objective for the company in a research note on Monday, May 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $37.80.

Several large investors have recently made changes to their positions in MYRG. Comerica Bank raised its stake in shares of MYR Group by 4.9% in the fourth quarter. Comerica Bank now owns 17,082 shares of the utilities provider’s stock worth $645,000 after buying an additional 796 shares during the last quarter. State Street Corp raised its stake in shares of MYR Group by 1.5% in the fourth quarter. State Street Corp now owns 391,327 shares of the utilities provider’s stock worth $14,745,000 after buying an additional 5,634 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of MYR Group by 16.7% in the fourth quarter. Renaissance Technologies LLC now owns 238,200 shares of the utilities provider’s stock worth $8,975,000 after buying an additional 34,000 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of MYR Group by 96.2% in the fourth quarter. Teachers Advisors LLC now owns 59,924 shares of the utilities provider’s stock worth $2,258,000 after buying an additional 29,387 shares during the last quarter. Finally, Macquarie Group Ltd. raised its stake in shares of MYR Group by 5.0% in the fourth quarter. Macquarie Group Ltd. now owns 593,737 shares of the utilities provider’s stock worth $22,372,000 after buying an additional 28,270 shares during the last quarter. Hedge funds and other institutional investors own 88.65% of the company’s stock.

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). The Company provides C&I electrical contracting services to general contractors, commercial and industrial facility owners, local governments and developers in the western and northeastern United States and western Canada.

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

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