MYR Group Inc.

Last updated
MYR Group Inc.
Type Public
Nasdaq:  MYRG
Founded1995
Headquarters Henderson, Colorado
RevenueIncrease2.svg$2.247 billion USD (2020) [1]
Number of employees
8,500
Website myrgroup.com

MYR Group Inc. is an American corporation that offers electrical construction services for transmission and distribution lines, substations, commercial and industrial buildings, and renewable energy. It is the parent company to 13 subsidiary electrical construction companies.[ citation needed ]

Contents

It has approximately 8500 employees and in 2020 had revenue of $2.247 billion.[ citation needed ] It is publicly traded on Nasdaq under the stock symbol MYRG. Its headquarters are in Thornton, Colorado.

History

MYR Group was listed on the New York Stock Exchange 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. [2] In 2008, approximately 20 million shares in the company were registered with NASDAQ for resale. Trading started at $16 per share; by December the price had fallen to $10. [2]

Richard S. Swartz became president and chief executive officer in January 2017, replacing William A. Koertner who had held those posts since 2003. [3]

Acquisitions

In 2000 the company acquired Great Southwestern Construction, followed by E.S. Boulos [4] and High Country Line Construction in 2015, Western Pacific Enterprises in 2016, [5] Huen Electric in 2018. [6] MYR Energy Services, Inc. was created in 2009 under the name MYR Transmission Services, Inc. and rebranded to its current name in 2019. [7]

Related Research Articles

<span class="mw-page-title-main">ABB</span> Swedish-Swiss robotics and electrical equipment company

ABB Ltd. is a Swedish-Swiss multinational corporation headquartered in Zürich, Switzerland. The company was formed in 1988 when Sweden's Allmänna Svenska Elektriska Aktiebolaget (ASEA) and Switzerland's Brown, Boveri & Cie merged to create ASEA Brown Boveri, later simplified to the initials ABB. Both companies were established in the late 1800s and were major electrical equipment manufacturers, a business that ABB remains active in today. The company has also since expanded to robotics and automation technology.

<span class="mw-page-title-main">ATCO</span> Canadian engineering and energy company

ATCO Ltd., operating as the ATCO Group, is a publicly-traded Canadian engineering, logistics and energy holding company based in Calgary, Alberta. ATCO's subsidiaries include electric utilities, natural gas production and distribution companies, and construction companies.

Fortis Inc. is a St. John's, Newfoundland and Labrador-based international diversified electric utility holding company. It operates in Canada, the United States, Central America, and the Caribbean. In 2015, it earned CA$6.7 billion.

<span class="mw-page-title-main">WESCO International</span> Holding company

WESCO International, Inc. is an American publicly traded Fortune 500 holding company for WESCO Distribution, a multinational electrical distribution and services company based in Pittsburgh, Pennsylvania.

<span class="mw-page-title-main">Hydro One</span> Electricity transmission and distribution utility serving in Ontario, Canada

Hydro One Limited is an electricity transmission and distribution utility serving the Canadian province of Ontario. Hydro One traces its history to the early 20th century and the establishment of the Hydro-Electric Power Commission of Ontario. In October 1998, the provincial legislature passed the Energy Competition Act which restructured Ontario Hydro into separate entities responsible for electrical generation, transmission/delivery, and price management with a final goal of total privatization.

<span class="mw-page-title-main">Constellation Energy</span> Energy company headquartered in Baltimore, Maryland

Constellation Energy Corporation is an energy company headquartered in Baltimore, Maryland, United States. The company provides electric power, natural gas, and energy management services. It has approximately two million customers across the continental United States.

The Dow Jones Composite Average is the stock market index composed of 65 prominent companies traded on both exchanges, maintained and tracked by S&P Dow Jones Indices. The average's components include every stock from the Dow Jones Industrial Average, the Dow Jones Transportation Average (20), and the Dow Jones Utility Average (15).

<span class="mw-page-title-main">Vector Limited</span> New Zealand electricity distribution company

Vector Limited is an electricity and gas distribution company in Auckland, New Zealand. It is the national number one provider of electricity distribution, number one provider of electricity and gas metering and number two wholesaler of LPG. It also owns a fibre optic cable network.

SCANA Corporation was a regulated electric and natural gas public utility. The company was based in Cayce, South Carolina, a suburb of Columbia, South Carolina. Following the Nukegate scandal, the company's stock fell and the company was in disrepair. In January 2019, SCANA was acquired by Dominion Energy. The corporate name SCANA was not an acronym, but was taken from the letters in South Carolina.

<span class="mw-page-title-main">UGI Corporation</span> American natural gas and electric power distribution company

UGI Corporation is a natural gas and electric power distribution company headquartered in King of Prussia, Pennsylvania, with extensive operations in the United States and Europe.

<span class="mw-page-title-main">Stone & Webster</span>

Stone & Webster was an American engineering services company based in Stoughton, Massachusetts. It was founded as an electrical testing lab and consulting firm by electrical engineers Charles A. Stone and Edwin S. Webster in 1889. In the early 20th century, Stone & Webster was known for operating streetcar systems in many cities across the United States including Dallas, Houston and Seattle. The company grew to provide engineering, construction, environmental, and plant operation and maintenance services, and it has long been involved in power generation projects, starting with hydroelectric plants of the late 19th-century; and with most American nuclear power plants.

<span class="mw-page-title-main">Intercontinental Exchange</span> American exchange and clearing house company

Intercontinental Exchange, Inc. (ICE) is an American company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russell 1000, the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada and Europe, the Liffe futures exchanges in Europe, the New York Stock Exchange, equity options exchanges and OTC energy, credit and equity markets.

<span class="mw-page-title-main">Henderson, Colorado</span> Unincorporated community in Colorado, United States

Henderson, formerly known as Henderson Island, is an unincorporated community and a U.S. Post Office in Adams County, Colorado, United States. Henderson has the ZIP Code 80640. Portions of the Henderson area have been annexed by Commerce City, Brighton, and Thornton.

<span class="mw-page-title-main">Sykes Enterprises</span> Business process outsourcing company

Sykes Enterprises, Inc., stylized as SYKES, is an American multinational business process outsourcing provider headquartered in Tampa, Florida. The company provides business process outsourcing (BPO) services, IT consulting, and IT-enabled services, such as technical support and customer service.

Quanta Services is an American corporation that provides infrastructure services for electric power, pipeline, industrial and communications industries. Capabilities include the planning, design, installation, program management, maintenance and repair of most types of network infrastructure. In June 2009, Quanta Services was added to the S&P 500 index, replacing Ingersoll-Rand.

HD Supply is an industrial distributor in North America. The company provides a broad range of products and value-added services to approximately 500,000 professional customers in maintenance, repair and operations, infrastructure and power and specialty construction sectors. The company was re-acquired by The Home Depot in December 2020.

<span class="mw-page-title-main">El Paso Electric</span>

El Paso Electric is a Texas-based public utility company, engaging in the generation, transmission, and distribution of electricity in west Texas and southern New Mexico. Its energy sources consist of nuclear fuel, natural gas, purchased power, solar and wind turbines. The company owns six electrical generating facilities with a net dependable generating capability of approximately 2,010 megawatts. It serves approximately 437,000 residential, commercial, industrial, public authority, and wholesale customers.

<span class="mw-page-title-main">Prysmian Group</span>

Prysmian S.p.A. is an Italian company with headquarters in Milan, specialising in the production of electrical cable for use in the energy and telecom sectors and for optical fibres. Prysmian is present in North America with 23 plants, 48 in Europe, 13 in LATAM, 7 MEAT, 13 APAC.

Mastec, Inc. is an American multinational infrastructure engineering and construction company based in Coral Gables, Florida. The company provides engineering, building, installation, maintenance and upgrade of energy, utility and communications infrastructure. Its customers are primarily in the utility, communications and government industries.

Willdan Group, Inc. (Willdan) is an American publicly traded company selling professional technical and consulting services to public and private utilities, public agencies at all levels of government, and commercial and industrial firms. The company operates offices in more than a dozen states, with its key operations in California and New York.

References

  1. "MYR Group Annual Report". myrgroup.com. MYR Group Inc.
  2. 1 2 "MYR Group goes public, quietly". MarketWatch.
  3. "MYR Group CEO Koertner to step down, Swartz to replace him". Daily Herald Business Ledger. 20 December 2016.
  4. "MYR Group Acquires New England Electrical Contractor E.S. Boulos". EC&M.
  5. "MYR Group (MYRG) Acquires Western Pacific Enterprises for C$16.1M". Street Insider.
  6. "MYR Group acquires Huen Electric companies". Daily Herald Business Ledger. 3 July 2018.
  7. "MYR Group History". MYR Group.