GuruFocus - Senior Vice President and Chief Financial Officer Kelly Huntington purchased 2,000 shares of MYR Group Inc (NASDAQ:MYRG) on August 9, 2024, as reported in a recent SEC Filing. Following this transaction, the insider now owns a total of 2,530 shares in the company.
MYR Group Inc, a specialty contractor serving the electrical infrastructure market in the United States and Canada, focuses on transmission and distribution services, substation services, and commercial and industrial electrical contracting. This insider transaction comes at a time when MYR Group Inc's shares were trading at $99.51, giving the company a market cap of $1.637 billion.
The company's current price-earnings ratio stands at 33.97, significantly above both the industry median of 14.79 and the companys historical median. Despite the high price-earnings ratio, MYR Group Inc is considered significantly undervalued with a price-to-GF Value ratio of 0.69, based on a GF Value of $144.32.
Over the past year, there has been a total of 1 insider buy and 2 insider sells at MYR Group Inc. The insider's recent purchase aligns with the company's valuation indicators suggesting a potential undervaluation at the current price levels.
The GF Value, a proprietary measure used to determine the fair value of a stock, incorporates historical trading multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from analysts.
This insider buying activity may signal a positive outlook from the insider based on the current stock valuation and the company's market position.
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.