Insider Selling: MYR Group, Inc. (MYRG) Chairman Sells $738,006.04 in Stock
MYR Group, Inc. (NASDAQ:MYRG) Chairman William A. Koertner sold 20,978 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $35.18, for a total transaction of $738,006.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of MYR Group, Inc. (MYRG) opened at $32.71 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.01 and a quick ratio of 2.01. The stock has a market cap of $565.82, a P/E ratio of 25.76 and a beta of 0.45. MYR Group, Inc. has a one year low of $23.00 and a one year high of $43.49.
MYR Group (NASDAQ:MYRG) last posted its earnings results on Wednesday, March 7th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The firm had revenue of $373.50 million during the quarter, compared to analysts’ expectations of $373.85 million. MYR Group had a net margin of 1.51% and a return on equity of 4.90%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share. equities research analysts predict that MYR Group, Inc. will post 1.88 EPS for the current fiscal year.
Several analysts recently commented on MYRG shares. KeyCorp restated a “hold” rating on shares of MYR Group in a report on Friday, November 24th. BidaskClub cut shares of MYR Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Zacks Investment Research upgraded shares of MYR Group from a “hold” rating to a “strong-buy” rating and set a $41.00 target price for the company in a research note on Wednesday, January 3rd. Robert W. Baird set a $41.00 target price on shares of MYR Group and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Finally, ValuEngine cut shares of MYR Group from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $36.00.
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 and the renewable energy industries.
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