MYR Group, Inc. (MYRG) Director William Patterson Sells 3,482 Shares

MYR Group, Inc. (NASDAQ:MYRG) Director William Patterson sold 3,482 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $30.10, for a total value of $104,808.20. Following the sale, the director now owns 23,934 shares of the company’s stock, valued at approximately $720,413.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

MYR Group, Inc. (NASDAQ MYRG) traded up 0.03% on Friday, reaching $31.20. The company’s stock had a trading volume of 159,677 shares. The firm’s 50 day moving average price is $31.77 and its 200-day moving average price is $37.31. MYR Group, Inc. has a 52 week low of $21.84 and a 52 week high of $43.77. The company has a market capitalization of $513.99 million, a price-to-earnings ratio of 25.16 and a beta of 0.42.

MYR Group (NASDAQ:MYRG) last released its earnings results on Wednesday, May 3rd. The utilities provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.22. MYR Group had a return on equity of 8.08% and a net margin of 1.74%. The firm 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 EPS for the current year.

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

ILLEGAL ACTIVITY WARNING: “MYR Group, Inc. (MYRG) Director William Patterson Sells 3,482 Shares” was first published by Markets Daily and is owned by of Markets Daily. If you are reading this article on another publication, it was stolen and republished in violation of United States and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.themarketsdaily.com/2017/06/16/myr-group-inc-myrg-director-william-patterson-sells-3482-shares-of-stock-updated.html.

MYRG has been the subject of several recent analyst reports. Zacks Investment Research upgraded MYR Group from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Tuesday, March 14th. TheStreet cut MYR Group from a “b-” rating to a “c” rating in a research note on Tuesday, May 30th. Robert W. Baird upgraded MYR Group from a “neutral” rating to an “outperform” rating and set a $41.00 target price for the company in a research note on Friday, May 5th. Finally, FBR & Co restated an “outperform” rating and set a $37.00 target price (down previously from $45.00) on shares of MYR Group in a research note on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $37.80.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in MYR Group by 3.5% in the first quarter. Vanguard Group Inc. now owns 876,521 shares of the utilities provider’s stock worth $35,937,000 after buying an additional 29,806 shares in the last quarter. Macquarie Group Ltd. increased its position in MYR Group by 15.5% in the first quarter. Macquarie Group Ltd. now owns 685,699 shares of the utilities provider’s stock worth $28,114,000 after buying an additional 91,962 shares in the last quarter. JPMorgan Chase & Co. increased its position in MYR Group by 46.1% in the first quarter. JPMorgan Chase & Co. now owns 615,392 shares of the utilities provider’s stock worth $25,231,000 after buying an additional 194,092 shares in the last quarter. Numeric Investors LLC increased its stake in shares of MYR Group by 79.9% in the fourth quarter. Numeric Investors LLC now owns 444,927 shares of the utilities provider’s stock valued at $16,765,000 after buying an additional 197,547 shares during the period. Finally, State Street Corp increased its stake in shares of MYR Group by 6.3% in the first quarter. State Street Corp now owns 415,984 shares of the utilities provider’s stock valued at $17,059,000 after buying an additional 24,657 shares during the period. 88.74% of the stock is currently owned by institutional investors.

MYR Group Company Profile

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.

Receive News & Ratings for MYR Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MYR Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply