MYR Group, Inc. (MYRG) Stock Price & How to Invest

MYR Group Inc. is a holding company for specialty electrical construction firms operating through two segments: Transmission & Distribution (T&D), which builds high-voltage transmission lines, substations, and distribution networks for utilities, and Commercial & Industrial (C&I), which handles electrical work for data centers, transportation, healthcare, manufacturing, and clean-energy facilities. Founded over a century ago and headquartered in the Denver area, the company employs roughly 9,000 people, a large skilled and union workforce, and competes on execution, safety, and utility relationships rather than proprietary technology.

The investment picture centers on secular tailwinds in grid modernization, electrification, renewable interconnection, and data-center buildout, balanced against the inherent cyclicality and execution risk of a project-based contractor. Revenue reached about $1.08 billion in Q2 2026, up about 20% year over year, with net income of about $49.9 million and EPS of $3.17 against a $2.64 estimate, the fourth straight sizable beat. Trailing revenue is now about $4.0 billion and trailing net income about $165 million. MYRG carries a large backlog and generates recurring maintenance and storm-restoration work, but its margins can swing quarter to quarter on project mix, change orders, and closeouts. The shares have been volatile: up about 34% over one year as of October 16, 2026, yet down about 30% over the past three months, and Jefferies upgraded the stock to Buy in early October.

As a project-based contractor, MYRG faces execution risk: fixed-price contracts, cost overruns, weather delays, and unfavorable change orders can compress margins in any given quarter, and margins are historically lumpy. Trailing net margin is only about 4.1% on a 12.5% gross margin, so small cost slips move earnings. Revenue depends on utility and commercial capital budgets, which are cyclical and sensitive to interest rates, permitting, and supply-chain conditions. Skilled-labor availability and union labor costs can constrain growth or pressure profitability. Customer concentration on large projects and reliance on timely project closeouts add variability. Finally, the stock itself has proved volatile, trading anywhere from about $190 to about $504 over the past 52 weeks and falling about 30% over the last three months, so expectations for continued backlog growth and margin strength are repriced quickly when sentiment around power-infrastructure names shifts.

5 analysts publish price targets on MYRG, averaging $400.20 against a $280.16 price as of October 2026, or +42.8%. The published targets run from $370.00 to $441.00, a narrow spread, and the ratings split 4 buy, 3 hold, 0 sell. Over the last six months there has been 1 raise and 3 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full MYRG forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on MYR Group, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Grid modernization and electrification spending. US and Canadian utilities are investing heavily in aging transmission and distribution infrastructure, grid hardening, and capacity to support electrification. The most optimistic published target, $441.00, assumes this works close to its best case.

The case against. As a project-based contractor, MYRG faces execution risk: fixed-price contracts, cost overruns, weather delays, and unfavorable change orders can compress margins in any given quarter, and margins are historically lumpy. The most pessimistic target, $370.00, is roughly what MYRG is worth if this bites instead.

Read the full bull and bear case on MYRG, including what would have to change to break either one. Walnut is not an investment adviser.

No. MYR Group, Inc. (MYRG) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see MYR Group, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$4.0B; Q2 2026 ~$1.08B, up ~20% year over year
• Margins (TTM): ~12.5% gross, ~6.2% operating, ~4.1% net
• Net income / EPS (TTM): ~$165M, ~$10.53 per share
• Q2 2026 EPS: ~$3.17 vs ~$2.64 expected
• P/E: ~27x trailing, ~19x forward
• Total backlog (March 31, 2026): ~$2.84B
• Market cap: ~$4.4B at ~$280.86 a share; no dividend

MYRG's multiple has compressed as earnings rose and the share price fell back: the trailing P/E is now about 27x, down from about 40x in July, and about 19x on next year's consensus EPS of roughly $14.58. Analysts expect Q3 2026 EPS of about $3.00 on ~$1.15 billion of revenue when the company reports on October 28, 2026. Figures are approximate and change with each report.

Other names that sit close to MYRG: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get MYRG exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so MYRG sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where MYRG fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

MYRG is an established electrical infrastructure contractor whose results track grid investment, backlog conversion, and project execution margins. Earnings have been beating estimates by wide margins through mid-2026, while the share price has swung hard, so the October 28 third-quarter report is the next checkpoint.

Whether MYRG is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is MYRG a buy or a sell?, and where the stock could go from here in the MYRG stock forecast.

For income investors, whether MYRG pays a dividend and how the payout looks is covered in does MYRG pay a dividend? And to weigh MYRG against a peer, read the full side-by-side comparisons: MYRG vs PWR and MYRG vs PRIM.