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

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

MYR Group Price Performance

Shares of NASDAQ:MYRG opened at $445.66 on Friday. The stock has a market cap of $6.94 billion, a PE ratio of 49.14 and a beta of 1.32. The company’s fifty day moving average is $381.31 and its 200 day moving average is $292.78. MYR Group, Inc. has a 52 week low of $158.48 and a 52 week high of $484.71. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.01.

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

Institutional Investors Weigh In On MYR Group

Large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in MYR Group by 207.9% in the 1st quarter. Parallel Advisors LLC now owns 117 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 79 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in MYR Group by 212.2% in the 4th quarter. Farther Finance Advisors LLC now owns 153 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 104 shares during the last quarter. Acumen Wealth Advisors LLC bought a new stake in MYR Group in the 4th quarter worth $35,000. Signaturefd LLC grew its holdings in MYR Group by 65.7% in the 4th quarter. Signaturefd LLC now owns 164 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 65 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted 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 purchasing an additional 160 shares in the last quarter. Institutional investors own 88.90% of the company’s stock.

Analysts Set New Price Targets

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

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.