In the third quarter, Denver-based 1060 Capital Management sold 32,500 shares in MYR Group for $5.9 million, representing more than 10% of the firm’s assets under management. This move marked a complete exit from MYR Group for the fund. The company’s top holdings after the sale included NYSE:RSI, NYSE:PRIM, NASDAQ:LULU, NYSE:NVRI, and NYSE:MTZ. MYR Group’s stock price was $229.44 as of Friday, up 52.6% in the past year. The company reported third-quarter revenue of $950.4 million, with net income reaching a record $32.1 million.

1060 Capital’s decision to sell its entire stake in MYR Group aligns with its strategy of cycling out of names where catalysts have played out. MYR Group remains a high-quality operator, but future upside depends on continued execution. The company’s stock performance has been strong, with shares up over 50% in the past year. Ultimately, patience and careful consideration are key for investors at these levels.

Read more at Nasdaq: Why One Fund Exited a $6 Million MYR Group Stake Last Quarter Amid Stock’s 50% Rally