MYR Group Inc. is an American

corporation A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and r ...

that offers electrical construction services for

transmission Transmission may refer to: Medicine, science and technology * Power transmission ** Electric power transmission ** Propulsion transmission, technology allowing controlled application of power *** Automatic transmission *** Manual transmission *** ...

and

distribution Distribution may refer to: Mathematics *Distribution (mathematics), generalized functions used to formulate solutions of partial differential equations * Probability distribution, the probability of a particular value or value range of a vari ...

lines, substations, commercial and industrial buildings, and

renewable energy Renewable energy is energy that is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, the movement of water, and geothermal heat. Although most renewable energy ...

. It is the parent company to 12 subsidiary electrical construction companies. It has approximately 8500 employees and in 2022 had revenue of $3.01 billion. It is publicly traded on

Nasdaq The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

under the stock symbol MYRG. Its headquarters are in

Thornton, Colorado The City of Thornton is a List of municipalities in Colorado#Home rule municipality, home rule municipality located in Adams County, Colorado, Adams and Weld County, Colorado, Weld List of counties in Colorado, counties, Colorado, United States. ...

History

MYR Group was listed on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

from 1996 to 2000, when it was bought by GPU Inc., which was then bought by FirstEnergy Corp. From 2005 to 2007, ArcLight Capital Partners was the majority shareholder. In 2008, approximately 20 million shares in the company were registered with

NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

for resale. Trading started at $16 per share; by December the price had fallen to $10. In 2023 the stock reached $150 a share. Currently the biggest shareholders are

BlackRock BlackRock, Inc. is an American Multinational corporation, multi-national investment company based in New York City. Founded in 1988, initially as a Enterprise risk management, risk management and fixed income institutional asset manager, BlackR ...

and

Vanguard Group The Vanguard Group, Inc. is an American registered investment advisor based in Malvern, Pennsylvania, with about $7 trillion in global assets under management, as of January 13, 2021. It is the largest provider of mutual funds and the second-lar ...

. Richard S. Swartz became president and chief executive officer in January 2017, replacing William A. Koertner who had held those posts since 2003.

Acquisitions

In 2000 the company acquired Great Southwestern Construction, followed by E.S. Boulos and High Country Line Construction in 2015, Western Pacific Enterprises in 2016, Huen Electric in 2018, and Powerline Plus in 2022. MYR Energy Services, Inc. was created in 2009.

References

{{reflist Companies established in 1995 Companies based in Colorado Renewable energy companies of the United States