William A. Koertner Sells 5,377 Shares of MYR Group Inc (NASDAQ:MYRG) Stock
MYR Group Inc (NASDAQ:MYRG) Director William A. Koertner sold 5,377 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $35.00, for a total transaction of $188,195.00. Following the sale, the director now directly owns 286,884 shares in the company, valued at $10,040,940. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
MYRG opened at $36.67 on Friday. MYR Group Inc has a twelve month low of $16.33 and a twelve month high of $38.85. The company has a quick ratio of 1.66, a current ratio of 1.47 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $30.79 and a 200 day moving average price of $28.16. The company has a market cap of $612.76 million, a PE ratio of 13.24 and a beta of 0.79.
MYR Group (NASDAQ:MYRG) last released its quarterly earnings results on Wednesday, July 29th. The utilities provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.34. MYR Group had a net margin of 2.12% and a return on equity of 12.56%. The firm had revenue of $513.05 million during the quarter, compared to the consensus estimate of $503.07 million. As a group, sell-side analysts expect that MYR Group Inc will post 2.45 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MYRG. Credit Suisse AG raised its position in shares of MYR Group by 15.9% during the 4th quarter. Credit Suisse AG now owns 19,962 shares of the utilities provider’s stock worth $651,000 after purchasing an additional 2,737 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in MYR Group in the 4th quarter valued at about $844,000. UBS Group AG raised its holdings in MYR Group by 65.9% in the 4th quarter. UBS Group AG now owns 23,076 shares of the utilities provider’s stock valued at $752,000 after acquiring an additional 9,167 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in MYR Group by 44.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 57,951 shares of the utilities provider’s stock valued at $1,889,000 after acquiring an additional 17,874 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in MYR Group in the 4th quarter valued at about $1,003,000. Hedge funds and other institutional investors own 89.85% of the company’s stock.
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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