MYR Group Inc (NASDAQ: MYRG) is 22.21% higher on its value in year-to-date trading and has touched a low of $110.87 and a high of $175.50 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MYRG stock was last observed hovering at around $175.25 in the last trading session, with the day’s gains setting it 1.5%.
Currently trading at $176.75, the stock is 8.58% and 13.27% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.17 million and changing 0.86% at the moment leaves the stock 25.73% off its SMA200. MYRG registered 46.70% gain for a year compared to 6-month gain of 27.20%. The firm has a 50-day simple moving average (SMA 50) of $0.83 and a 200-day simple moving average (SMA200) of $15.91.
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The stock witnessed a 2.55% loss in the last 1 month and extending the period to 3 months gives it a 22.19%, and is 4.12% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.02% over the week and 3.40% over the month.
MYR Group Inc (MYRG) has around 9000 employees, a market worth around $2.96B and $3.64B in sales. Current P/E ratio is 32.68 and Fwd P/E is 22.17. Profit margin for the company is 2.50%. Distance from 52-week low is 59.42% and 0.71% from its 52-week high. The company has generated returns on investments over the last 12 months (12.88%).
MYR Group Inc quarterly earnings per share for the current quarter are estimated at $1.21 with sales reaching $859.7M over the same period.The EPS is expected to grow by 19.20% this year, but quarterly earnings will post 7.50% year-over-year. Quarterly sales are estimated to grow 5.90% in year-over-year returns.
374 institutions hold shares in MYR Group Inc (MYRG), with institutional investors hold 97.34% of the company’s shares. The shares outstanding are 16.68M, and float is at 16.36M with Short Float at 2.95%. Institutions hold 94.92% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 3.05 million shares valued at $421.9 million. The investor’s holdings represent 18.25% of the MYRG Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 1.26 million shares valued at $174.14 million to account for 7.53% of the shares outstanding. The other top investors are Dimensional Fund Advisors LP which holds 0.98 million shares representing 5.86% and valued at over $135.54 million, while Macquarie Group Limited holds 4.12% of the shares totaling 0.69 million with a market value of $95.32 million.
MYR Group Inc (MYRG) Insider Activity
The most recent transaction is an insider sale by Swartz Richard S. Jr., the company’s President and CEO. SEC filings show that Swartz Richard S. Jr. sold 18,000 shares of the company’s common stock on Aug 23 ’23 at a price of $143.21 per share for a total of $2.58 million. Following the sale, the insider now owns 0.12 million shares.
MYR Group Inc disclosed in a document filed with the SEC on Aug 15 ’23 that FRY WILLIAM (VP, CLO and Secretary) sold a total of 3,500 shares of the company’s common stock. The trade occurred on Aug 15 ’23 and was made at $145.05 per share for $0.51 million. Following the transaction, the insider now directly holds 6434.0 shares of the MYRG stock.
