Senior Vice President and Chief Financial Officer Kelly Huntington bought 2,000 shares of MYR Group Inc (NASDAQ:MYRG) on August 9, 2024, according to a recent SEC filing. Following this transaction, the insider now owns a total of 2,530 shares of the company.
MYR Group Inc., a specialty company serving the electrical infrastructure market in the United States and Canada, focuses on transmission and distribution services, substation services, and commercial and industrial electrical installations. This insider transaction occurred at a time when MYR Group Inc. shares were trading at $99.51, giving the company a market capitalization of $1.637 billion.
The company’s current price-to-earnings ratio is 33.97, which is significantly higher than the industry median of 14.79 and the company’s historical median. Despite the high price-to-earnings ratio, MYR Group Inc. is considered significantly undervalued with a price-to-earnings ratio of 0.69 based on an earnings-to-earnings ratio of $144.32.
In the past year, MYR Group Inc. has seen a total of 1 insider purchase and 2 insider sales. The insider’s recent purchase is in line with the company’s valuation indicators, which suggest a possible undervaluation at the current share price level.
GF Value, a proprietary measure for determining the fair value of a stock, takes into account historical trading multiples such as price-to-earnings ratio, price-to-sales ratio, price-to-book ratio and price-to-free cash flow ratio, as well as a GuruFocus adjustment factor based on past earnings and growth as well as analyst estimates of future business performance.
This insider buying activity may indicate a positive outlook by the insider based on the company’s current stock valuation and market position.
This article created by GuruFocus is intended to provide general insights and does not constitute tailored financial advice. Our commentary is based on historical data and analyst forecasts, uses an unbiased methodology and is not intended to serve as specific investment advice. It does not contain a recommendation to buy or sell any stock and does not take into account any individual investment objectives or financial circumstances. Our goal is to provide long-term, fundamental, data-driven analysis. Note that our analysis may not include the most recent, price-sensitive company announcements or qualitative information. GuruFocus does not hold a position in any stocks mentioned here.
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