Core Insights - 1060 Capital Management has sold its entire stake in MYR Group, amounting to a net change of $5.9 million, during the third quarter [1][2] - MYR Group's stock has increased by 52.6% over the past year, significantly outperforming the S&P 500, which rose about 13% in the same period [3] Company Overview - MYR Group is a leading provider of electrical construction services, focusing on transmission, distribution, and commercial/industrial projects [5] - The company serves a diverse customer base, including investor-owned utilities, cooperatives, independent power producers, government agencies, and general contractors in the U.S. and Canada [5] - As of the latest market close, MYR Group's stock price is $229.44, with a market capitalization of $3.6 billion, trailing twelve months (TTM) revenue of $3.5 billion, and TTM net income of $97.8 million [4] Financial Performance - MYR Group reported third-quarter revenue of $950.4 million, reflecting a 7% year-over-year increase [8] - Gross margins expanded to 11.8% from 8.7%, and EBITDA nearly doubled to $62.7 million, with net income reaching a record $32.1 million [8] - Free cash flow has also strengthened materially, indicating robust financial health [8] Investment Context - The decision by 1060 Capital to divest from MYR Group aligns with its strategy of cycling out of investments where original catalysts have played out [6] - MYR Group's stock price nearing an all-time high suggests fewer immediate opportunities for gains compared to other potential investments [6][9]