Vanguard Discloses 17.5% Stake in MYR Group (MYRG)

TL;DR

**Vanguard owns 17.5% of MYR Group, a big vote of confidence.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in MYR Group Inc. (MYRG) as of December 29, 2023. This filing indicates that Vanguard holds 3,066,975 shares of MYR Group's Common Stock, representing 17.5% of the company. This matters to investors because Vanguard's significant stake suggests institutional confidence in MYR Group, but any future changes in their position could influence the stock price.

Why It Matters

Vanguard's substantial ownership stake of 17.5% in MYR Group signals strong institutional backing, which can be a positive indicator for other investors. However, large institutional holdings can also lead to volatility if the holder decides to significantly alter their position.

Risk Assessment

Risk Level: low — This filing primarily updates an existing ownership stake, indicating stability rather than a new, potentially disruptive event.

Analyst Insight

Investors should note Vanguard's continued significant stake as a sign of institutional confidence, but also understand that this is a passive investment, not an activist one. Monitor future 13G/A filings for any substantial changes in Vanguard's position, which could signal a shift in their outlook on MYR Group.

Key Numbers

• 3,066,975 — Shares Owned (The total number of Common Stock shares of MYR Group Inc. beneficially owned by The Vanguard Group.)
• 17.5% — Ownership Percentage (The percentage of MYR Group Inc.'s Common Stock class beneficially owned by The Vanguard Group, indicating a significant institutional stake.)
• 7 — Amendment Number (This is the 7th amendment to Vanguard's Schedule 13G filing for MYR Group Inc., showing ongoing adjustments to their reported ownership.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and major shareholder
• MYR Group Inc. (company) — issuer of the securities
• 3,066,975 (dollar_amount) — number of shares beneficially owned by Vanguard
• 17.5% (dollar_amount) — percentage of class beneficially owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Vanguard will maintain a significant, but not activist, stake in MYR Group Inc. (The Vanguard Group) — high confidence, target: December 29, 2024

FAQ

Filing Documents

• tv01503-myrgroupinc.htm (SC 13G/A) — 11KB
• 0001104659-24-021514.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: MYR Group Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 12121 Grant Street, Suite 610 Thornton, CO 80241

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 55405W104

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR