The Quiet Dance of Divestment: A Tale of MYR Group’s Sudden Exit from 1060 Capital’s Portfolio

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On a Friday, when the air seemed to still, the news from Denver spread through the market like a soft but unrelenting breeze: 1060 Capital Management, a quiet player in the vast, ever-churning sea of finance, had severed its ties with MYR Group, casting off its entire stake with the casual precision of a leaf falling from a tree. The sale, precise and deliberate, represented a shift of $5.9 million-a sum measured not by its magnitude, but by the quiet yet significant ripple it left behind.

What Happened

In an SEC filing that seemed to whisper amid the clamor of the week, 1060 Capital disclosed that in the third quarter, it had divested itself entirely of MYR Group, unloading 32,500 shares. The total transaction, set against the backdrop of the quarter’s average pricing, amounted to $5.9 million. It was a shift not in the tide, but in the nature of the currents themselves. The position, once holding weight and promise, was now reduced to naught-an unspoken, almost imperceptible departure, leaving no trace behind but the memory of what had been.

What Else to Know

The portfolio, now leaner, was composed of a few sturdy, enduring holdings, each representing not merely a transaction but a conviction:

  • NYSE:RSI: $9.2 million (31.3% of AUM)
  • NYSE:PRIM: $6.9 million (23.3% of AUM)
  • NASDAQ:LULU: $5.3 million (18.1% of AUM)
  • NYSE:NVRI: $4.2 million (14.1% of AUM)
  • NYSE:MTZ: $2.1 million (7.2% of AUM)

Their dance, calculated and calm, suggested a strategic retreat from MYR, which, having soared 52.6% in the past year, now hovered slightly below its 52-week high. One could almost hear the soft rustle of paper in the wind-a sign of quiet resignation rather than triumph.

Company Overview

Metric Value
Price (as of market close Friday) $229.44
Market capitalization $3.6 billion
Revenue (TTM) $3.5 billion
Net income (TTM) $97.8 million

Company Snapshot

MYR Group, an operator that stood at the crossroads of electrical construction, was a creature of scale and sophistication. Across the landscape of transmission, distribution, and commercial ventures, it had crafted a portfolio both vast and varied. It wove infrastructure into the fabric of utilities and industrial giants, its reach extending through the United States and Canada. With a customer base that stretched like a long river over the land, MYR’s business model was resilient-its survival, a quiet testament to the strength of the current beneath the surface.

Foolish Take

For the long-term observer, the move by 1060 Capital speaks not only to the present but to a shifting pattern of strategy. This fund, whose holdings numbered a mere ten, was a sculptor of its own destiny, chipping away at investments where it sensed that the winds had shifted, leaving less to gain. Just last quarter, it parted ways with other positions-Brightstar Lottery and Armstrong World Industries-while embracing new ventures such as Lululemon and a notable Tesla put position. The dance was one of movement, but also of foresight.

The numbers within MYR spoke of a company growing at a steady, measured pace. Revenue had climbed to $950.4 million, a modest rise of 7% year-on-year. Gross margins, like the first rays of dawn, had expanded, while EBITDA nearly doubled-a flicker of promise in a landscape that often burns bright and then fades. Net income, too, had reached a record $32.1 million, and free cash flow was more robust than in days past. Yet, despite all this, the stock hovered just below its peak, leaving those with long-term vision to wonder whether further heights were in the offing, or if patience, that ever-present companion, would become a burden to bear in the pursuit of greater gains.

Ultimately, for those who seek deep meaning in the market’s endless ebb and flow, MYR Group stands as a symbol of resilience and opportunity. Yet, for those with a sharper eye, the future may be shaped less by rising tides and more by steady hands at the helm. The question remains not of what has been, but of what is yet to come-the unknown, the unspoken, and the quietly unfolding narrative of the markets themselves.

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2025-11-17 00:23