November 30, 2016 - By Michael Collier
The Myr Group Inc’s shareholder, Henry Fayne, the well informed person unloaded – 2,760 Myr Group Inc’s shares, based on the price of stock which is $38.2 for each one share. These insider sold shares now has a value of about $105,336 USD. More information about the trade dated 30-11-2016, could be found accessible in a legal document on the SEC website here. Right now, he owns 22,247 shares or about 0.14% of the Company’s market capitalization.
Out of 7 analysts covering MYR Group (NASDAQ:MYRG), 1 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 14% are positive. $30 is the highest target while $23 is the lowest. The $26.67 average target is -29.39% below today’s ($37.77) stock price. MYR Group has been the topic of 10 analyst reports since August 11, 2015 according to StockzIntelligence Inc. Stifel Nicolaus reinitiated the stock with “Hold” rating in Tuesday, January 5 report. The firm has “Hold” rating by BB&T Capital given on Friday, October 2. Avondale downgraded MYR Group Inc (NASDAQ:MYRG) on Friday, November 18 to “Market Perform” rating. On Friday, August 12 the stock rating was downgraded by Robert W. Baird to “Neutral”. The firm has “Buy” rating by Maxim Group given on Friday, August 5. Zacks downgraded MYR Group Inc (NASDAQ:MYRG) on Tuesday, August 11 to “Buy” rating. The stock has “Mkt Perform” rating given by FBR Capital on Friday, November 6. The rating was maintained by FBR Capital on Tuesday, March 8 with “Market Perform”.
Insitutional Activity: The institutional sentiment increased to 0.98 in 2016 Q2. Its up 0.33, from 0.65 in 2016Q1. The ratio is positive, as 16 funds sold all MYR Group Inc shares owned while 55 reduced positions. 19 funds bought stakes while 27 increased positions. They now own 14.42 million shares or 10.92% less from 16.19 million shares in 2016Q1.
Tfs Capital Limited holds 0.28% or 63,640 shares in its portfolio. Northern Tru Corporation holds 295,701 shares or 0% of its portfolio. Aqr Ltd Liability accumulated 0.01% or 165,911 shares. Phocas Financial Corporation, a California-based fund reported 309,644 shares. Principal Grp Inc accumulated 0% or 128,260 shares. Renaissance Limited Company last reported 166,900 shares in the company. The Massachusetts-based Rhumbline Advisers has invested 0% in MYR Group Inc (NASDAQ:MYRG). State Board Of Administration Of Florida Retirement System, a Florida-based fund reported 56,675 shares. First Republic Investment Mngmt Incorporated last reported 72,738 shares in the company. Victory Cap Management has 34,767 shares for 0% of their US portfolio. The United Kingdom-based Gsa Cap Partners Llp has invested 0.08% in MYR Group Inc (NASDAQ:MYRG). Teachers Advisors Incorporated has 32,009 shares for 0% of their US portfolio. Parametric Limited Liability Corp owns 49,652 shares or 0% of their US portfolio. Sheets Smith Wealth has 0.06% invested in the company for 8,554 shares. Nationwide Fund Advsrs last reported 14,713 shares in the company.
Insider Transactions: Since August 18, 2016, the stock had 0 insider purchases, and 9 insider sales for $6.09 million net activity. Shares for $288,449 were sold by Alexander Jack L. on Monday, November 14. KOERTNER WILLIAM A sold $295,000 worth of stock or 10,000 shares. Engen Gerald B. Jr. also sold $1.04 million worth of MYR Group Inc (NASDAQ:MYRG) shares. Another trade for 9,212 shares valued at $264,845 was made by COOPER TOD M. on Thursday, August 18. Swartz Richard S. Jr. sold $1.08 million worth of stock or 32,000 shares.
About 204,615 shares traded hands or 47.27% up from the average. MYR Group Inc (NASDAQ:MYRG) has risen 48.55% since April 27, 2016 and is uptrending. It has outperformed by 43.33% the S&P500.
MYR Group Inc. is a holding company
According to Zacks Investment Research, “MYR GROUP INC. is a holding Company of specialty construction service providers. Through subsidiaries dating back to 1891, MYR is one of the largest national contractors servicing the transmission and distribution sector of the United States electric utility industry. Transmission and distribution customers include electric utilities, cooperatives and municipalities. The Company also provides commercial and industrial electrical contracting services to facility owners and general contractors in the Western United States. MYR Group’s comprehensive services include turn-key construction and maintenance services for the nation’s electrical infrastructure.”
Analysts await MYR Group Inc (NASDAQ:MYRG) to report earnings on March, 2. They expect $0.39 EPS, up 34.48% or $0.10 from last year’s $0.29 per share. MYRG’s profit will be $6.31 million for 24.21 P/E if the $0.39 EPS becomes a reality. After $0.38 actual EPS reported by MYR Group Inc for the previous quarter, Wall Street now forecasts 2.63% EPS growth.
More news for MYR Group Inc (NASDAQ:MYRG) were recently published by: Prnewswire.com, which released: “Engine Capital Delivers Letter to MYR Group Inc. Board of Directors” on December 08, 2015. Streetinsider.com‘s article titled: “MYR Group (MYRG) Acquires Western Pacific Enterprises for C$16.1M” and published on October 31, 2016 is yet another important article.
MYR Group Inc., incorporated on January 15, 1982, is a holding company. The Company, through its subsidiaries, provides specialty electrical construction services. The Firm performs construction services in two divisions: Transmission and Distribution (T&D), and Commercial and Industrial (C&I). The Firm 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. The Company’s subsidiaries include The L. E. Myers Co., Harlan Electric Company, Great Southwestern Construction, Inc., Sturgeon Electric Company, Inc., MYR Transmission Services, Inc., E.S. Boulos Company, High Country Line Construction, Inc., MYR Group Construction Canada, Ltd., MYR Transmission Services Canada, Ltd. and Northern Transmission Services, Ltd. The Firm provides electrical construction services, and limited gas construction services, through a network of local offices located throughout the United States and Canada.
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