MYR Group sees institutional investors hold 88% stake By Investing.com

<p> <br />
</p>
<div>
<div>
<img decoding="async" alt="MYR Group sees institutional investors hold 88% stake" id="carouselImage" src="https://i-invdn-com.investing.com/news/LYNXNPEB8506G_L.jpg" style="visibility:hidden" /><br />
<span>© Reuters. </span><br />
<i class="imgGrad"/>
</div>
<p>In a recent analysis of <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> MYR Group </span></span> Inc. (NASDAQ:), a notable dominance of institutional investors has been highlighted, with these entities controlling approximately 88% of the company&#8217;s shares. This significant stake by institutions suggests their influence could greatly impact decisions for individual investors.</p>
<p>Leading the institutional ownership are prominent firms such as BlackRock (NYSE:), Inc., The Vanguard Group, Inc., and Dimensional Fund Advisors LP, which hold 18%, 7.5%, and 5.1% of MYR Group&#8217;s shares, respectively. The CEO of MYR Group, Richard Swartz, also has a vested interest in the company with ownership of 0.7% of the shares.</p>
<p>The concentration of over half of the company&#8217;s shares among the top 10 shareholders strikes a balance that could serve to align the interests of larger and smaller shareholders. Analysts often view insider ownership as an indicator of confidence in the company&#8217;s future, and at MYR Group, insiders hold a substantial US$39 million stake.</p>
<p>While retail investors, encompassing the general public, own a smaller portion of the company at 10%, their collective actions still have the potential to influence company policies. With such a diverse shareholder structure, individuals considering investment in MYR Group are advised to weigh their decisions against potential risks and to consult analyst forecasts to gauge the company&#8217;s future performance trajectory.</p>
<h2>InvestingPro Insights</h2>
<p>In addition to the insights provided above, InvestingPro offers further analysis and data for MYR Group Inc. (NASDAQ:MYRG). According to InvestingPro, the company yields a high return on invested capital and has been profitable over the last twelve months. This aligns with the confidence exhibited by institutional investors and insiders in MYR Group.</p>
<p>However, it is crucial to note that the company&#8217;s stock has fared poorly over the last month, with a significant price drop over the last three months. InvestingPro data shows a 1-month price total return of -13.75% and a 3-month price total return of -20.18%. This might be a cause for concern for potential investors.</p>
<p>In terms of valuation, the company is trading at a high P/E ratio of 20.99, relative to its near-term earnings growth. Additionally, the company&#8217;s revenue growth in the last twelve months as of Q3 2023 was 25.55%, indicating a positive trend in the company&#8217;s top-line performance.</p>
<p>InvestingPro also offers numerous additional tips and real-time metrics for MYR Group Inc. and other companies, providing investors with comprehensive data for informed decision-making.</p>
<p><em>This article was generated with the support of AI and reviewed by an editor. For more information see our T&amp;C.</em></p>
</div>
<p><br />
<br /><a href="https://www.investing.com/news/stock-market-news/myr-group-sees-institutional-investors-hold-88-stake-93CH-3231561">Source link </a></p><p>The post <a href="https://forextraderhub.com/myr-group-sees-institutional-investors-hold-88-stake-by-investing-com.html">MYR Group sees institutional investors hold 88% stake By Investing.com</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>