On August 27, 2024, Bradley Favreau, a Director at MYR Group Inc (MYRG, Financial), purchased 1,005 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns 12,707 shares of MYR Group Inc.
MYR Group Inc is a specialty contractor serving the electrical infrastructure market in the United States and Canada. The company's services include designing, installing, upgrading, and maintaining infrastructures.
The shares were bought at a price of $99.7 each, valuing the transaction at approximately $100,248.5. This acquisition has increased the insider's stake in the company significantly.
Over the past year, there have been a total of 2 insider buys and 0 insider sells at MYR Group Inc. The insider, Bradley Favreau, has been active in the market, with a total acquisition of 1,005 shares over the period and no recorded sales.
On the valuation front, MYR Group Inc's shares have a market cap of approximately $1.65 billion. The stock's price-earnings ratio stands at 34.25, which is above both the industry median of 15.47 and the company's historical median.
According to the GF Value, the intrinsic value of MYR Group Inc is estimated at $143.26 per share, suggesting that the stock is significantly undervalued with a price-to-GF-Value ratio of 0.7.
This insider purchase could be a signal to investors about the potential undervaluation of MYR Group Inc based on its current share price compared to its GF Value.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
