 Case 66 MYR GroupB. Rajesh Kumar
A chapter in Rising Stars, 2024, pp 493-499 from Springer Abstract: Abstract MYR Group’s oldest subsidiary The L E Myers Co was established in the year 1891. The company has been an industry leader for more than 130 years. Throughout the early 1900s, L E Myers had played an instrumental role in building the national’s electrical infrastructure. In the year 1953, L E Myers had built US’s first 345 Kv transmission lines for the Ohio Valley Electric Corporation. During the 1990s, L E Myers acquired Sturgeon Electric and Harlan Electric. In 1995, MYR Group Inc. was established as the holding company of L E Myers, Sturgeon Electric and Harlan Electric. MYR Group became one of the largest holding companies of specialty electrical contractors in the USA and Canada. The company went public in year 2008 and began trading on NASDAQ under the symbol MYRG. Through the subsidiaries, the company cater to the needs of electric utility infrastructure, commercial and industrial construction markets. The operations of the company are conducted through wholly owned subsidiaries. Electrical construction services are provided through network of local offices which are established in the USA and Canada. The company provides a wide range of services such as design, engineering, procurement, construction, upgrade along with maintenance and repair services. By December 31, 2022, the company employed 8500 people. The company is among the top five engineering special electrical contractors in the USA for the past 25 years in a row. The primary business of SLM is to originate and service high quality private education loans. These education loans are provided to students and families who are not insured or guaranteed by any state or federal government. SLM also offers range of deposit products which are insured by the Federal Deposit Insurance Corporation. The company originated $6 billion of private education loans in the year 2022. By December 31, 2022, SLM had $19 billion of private education loans as part of its investment portfolio. SLM focuses basically on students who are enrolled for public and private not-for-profit 4-year degree granting institutions. The 5-year holding period return for MYR Group stock was 158% compared to holding period return of 57%, 22%, and 101% for S&P500, Russell 2000, and Peer Group during 2017–2022. Date: 2024 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-031-50032-9_66 Ordering information: This item can be ordered from DOI: 10.1007/978-3-031-50032-9_66 Access Statistics for this chapter More chapters in Management for Professionals from Springer |
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