MYR Group was removed from the Russell 2000 Dynamic Index on June 27, a change that can trigger portfolio rebalancing by funds. The stock last closed at $419.78, with a 7-day return of -9.36%, a year-to-date return of 85.15%, and a one-year total shareholder return of 127.87%. One narrative fair value estimate places the stock at $455, suggesting it is 7.7% undervalued, supported by significant multi-year utility contracts including a new 5-year master service agreement with Xcel Energy. However, the current price-to-earnings ratio of 46.1x sits above the US Construction industry average of 39.8x, the peer average of 27.3x, and a fair ratio of 32.2x, indicating investors are already paying a premium for its earnings power.
MYR Group IncRemoved from Russell 2000 Dynamic Index, triggering portfolio rebalancing; stock trades at discount to analyst target but at premium P/E vs peers.
Xcel Energy IncMYR Group's new 5-year master service agreement with Xcel Energy indicates ongoing demand for Xcel's utility contracts.