New York, June 4, 2026, 05:07 EDT
MYR Group Inc. shares slipped in early Nasdaq premarket trade Thursday. The move puts the electrical contractor’s strong 2026 run back in focus as company executives meet institutional investors in New York. Recent insider filings are also drawing attention.
The stock last changed hands at $441.35, off $9.62, or roughly 2.1% lower than Tuesday’s close. That trade came in at 4:31 a.m. EDT, ahead of the U.S. market open.
The Nasdaq is set to open for its regular session today. June 4 doesn’t appear on the 2026 holiday calendar, and the next planned June closure is Juneteenth on June 19. Nasdaq’s system turns on at 4:00 a.m. Eastern, with normal trading from 9:30 a.m. to 4:00 p.m.
Premarket trading lets shares trade before the main session starts. It’s usually thinner than regular hours, making early price swings noisy.
MYR said CEO Rick Swartz, CFO Kelly Huntington, and IR chief Jennifer Harper are set to meet with institutional investors at Baird’s Global Consumer, Technology & Services Conference in New York on Thursday. That follows a Stifel one-on-one in Boston the day before. Both are client-only events. This time, the key company catalyst isn’t an earnings release.
Insider filings this week showed another move. A Form 4 disclosed that Huntington sold 2,000 shares of MYR Group Inc. on June 1, with prices averaging between $453 and $460. She had 4,691 shares left after the sale, according to the filing.
Director Shirin O’Connor sold 3,159 shares on June 1 at prices between about $442 and $453, according to a separate Form 4 filing. She now holds 4,061 shares.
Director Donald C.I. Lucky filed a Form 144 for 14,675 shares, valued around $6.6 million, with a planned sale date of June 3. Form 144 is just a notice and doesn’t confirm a trade was made.
MYR stock had already dropped hard after its first-quarter numbers. The company posted revenue of $1.00 billion, with net income at a record $46.8 million, or $2.99 per diluted share. EBITDA also came in at a record $81.5 million, and backlog was at $2.84 billion, another high. EBITDA is earnings before interest, taxes, depreciation and amortization. Backlog is signed work not booked as revenue yet. Swartz described the start of the year as having “strong momentum” and called out a “favorable market outlook.” MYR Group Inc.
MYR is looking to grow its Commercial & Industrial business. The company said on May 27 it will buy Valley Electric and Comet Electric for about $328 million, paid in cash and through its revolving credit facility. The two firms have averaged more than $400 million in annual revenue over the past two years. CEO Swartz said the deals bring in “strong management teams” and will “enhance our ability to capture projects.” MYR Group Inc.
The catch is the Valley deal isn’t done. It still needs regulators to sign off, plus other closing steps. MYR’s first-quarter margins got a lift from productivity gains, some helpful change orders, and a job closeout. Those won’t necessarily show up again. The company flagged project inefficiencies that took some of those gains away. If integration costs go higher, the deal drags out, or margins slide, the stock could get hit.
MYR is one of several big public players in the fragmented electrical contracting business, alongside Quanta Services, EMCOR and MasTec. The sector gets a boost from data center, EV charging and infrastructure demand, but skilled labor is tight, a ResearchAndMarkets report out on Business Wire said.
Quanta shares traded 1.4% higher in early trading, and MasTec gained 1.0%, based on market data. MYR’s market cap sat at about $6.9 billion. That’s well below Quanta at $108.8 billion and MasTec at $29.1 billion.
Stock futures were mixed early Thursday, with S&P 500 futures dropping 0.2% and Nasdaq 100 futures down 0.4%. Dow futures inched higher, according to the Wall Street Journal. The broader market was not offering much direction.
