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    Why MYR Group (MYRG) Shares Moved After Its Latest Update

    Simply Wall St·11/07/2026 09:26:43
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    MYR Group (MYRG) put fresh numbers on the board on October 28, reporting third quarter and year to date results alongside a new US$100 million share repurchase plan that immediately sharpened investor focus.

    Against that backdrop, MYR Group’s share price has pulled back, with a 30 day share price return of down 16.0% and a 90 day move of down 22.1%. Even though the year to date share price return is up 16.0% and the 3 year total shareholder return sits around 128%, this points to longer term momentum but more cautious sentiment around the recent earnings and buyback news.

    Scan beyond MYR Group and see how other power grid and construction plays are setting up in the 42 power grid technology and infrastructure stocks.

    After that sharp pullback, MYR Group now trades well below both its analyst target and intrinsic value estimates. Is the recent slide enough to put the price inside a reasonable fair value zone?

    Most Popular Narrative: 31% Undervalued

    At a last close of $262.91 versus a most-followed fair value view of $382, MYR Group is framed as undervalued. That gap is described as being rooted in expectations for grid, data center and margin tailwinds, rather than short term trading swings.

    The growing mix of commercial and industrial backlog tied to data centers, clean energy and water treatment projects, supported by industry data showing North American data center starts are up nearly 100% year over year, creates a pipeline of complex work that can support revenue and earnings visibility.

    See why 13 investors see MYR Group as 31% undervalued.

    Result: Fair Value of $382 (UNDERVALUED)

    Still, the narrative around MYR Group could change quickly if cash generation continues to lag reported earnings, or if the Valley Holdings acquisition underdelivers on margins.

    Find out about the key risks to this MYR Group narrative.

    Next Steps

    This MYR Group story maintains an optimistic yet cautious tone. After reading, consider reviewing the underlying numbers yourself and then see the 5 key rewards.

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