MYR Group Inc (NASDAQ:MYRG) Director William Patterson sold 386 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $34.39, for a total value of $13,274.54. Following the sale, the director now owns 24,426 shares of the company’s stock, valued at approximately $840,010.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
NASDAQ:MYRG opened at $33.87 on Friday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $32.13 and its two-hundred day moving average is $32.99. MYR Group Inc has a 52 week low of $26.24 and a 52 week high of $38.14. The company has a market cap of $580.34 million, a PE ratio of 18.11 and a beta of 0.92.
MYR Group (NASDAQ:MYRG) last released its earnings results on Wednesday, October 30th. The utilities provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. MYR Group had a return on equity of 10.57% and a net margin of 1.83%. The company had revenue of $583.21 million for the quarter, compared to the consensus estimate of $503.87 million. During the same quarter last year, the business posted $0.48 EPS. MYR Group’s quarterly revenue was up 46.0% compared to the same quarter last year. As a group, sell-side analysts expect that MYR Group Inc will post 2.05 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in MYRG. Optimum Investment Advisors bought a new stake in shares of MYR Group in the 2nd quarter worth approximately $37,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of MYR Group in the 3rd quarter worth approximately $44,000. Meeder Asset Management Inc. lifted its holdings in shares of MYR Group by 3,384.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,359 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 1,320 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of MYR Group in the 2nd quarter worth approximately $61,000. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of MYR Group in the 2nd quarter worth approximately $108,000. 90.63% of the stock is currently owned by institutional investors.
About MYR Group
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 industry.
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