What Happened?
A number of stocks jumped in the afternoon session after WTI oil fell 4.7% and Treasury yields declined on Iran-US peace progress.
Construction and maintenance companies (MasTec, Quanta Services, MYR Group, EMCOR, Comfort Systems) execute the long-cycle infrastructure projects: power transmission, data center buildouts, electrical and mechanical work that underpin both the traditional economy and the AI infrastructure trade.
These companies operate on multi-year contracted backlogs that they convert to revenue as projects ship. Lower oil reduces their fuel costs (heavy equipment, transportation, hot mix asphalt for paving), while lower yields reduce financing costs for their customers (utilities, data center operators, REITs). The AI infrastructure buildout adds a third tailwind as companies like Quanta and MYR are heavily exposed to the electrical grid expansion that AI data centers demand.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Construction and Maintenance Services company MYR Group (NASDAQ: MYRG) jumped 3.9%. Is now the time to buy MYR Group? Access our full analysis report here, it’s free.
- Construction and Maintenance Services company Tutor Perini (NYSE: TPC) jumped 2.6%. Is now the time to buy Tutor Perini? Access our full analysis report here, it’s free.
Zooming In On MYR Group (MYRG)
MYR Group’s shares are quite volatile and have had 19 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 25 days ago when the stock gained 5% on the news that the company reported strong first-quarter 2026 financial results, which showed significant margin improvements across its business.
In the first quarter, MYR Group's gross margin grew to 13.4% from 11.6% in the same period a year earlier. The company attributed this growth to undertaking more projects with higher contractual margins, better-than-expected productivity, and favorable adjustments to existing projects. The strong performance was seen across its main divisions, with the Transmission & Distribution (T&D) operating income margin rising to 9.7% from 7.8% the previous year, and the Commercial & Industrial (C&I) margin increasing to 8.1% from 4.7%.
MYR Group is up 105% since the beginning of the year, and at $464.88 per share, it is trading close to its 52-week high of $473.07 from May 2026. Investors who bought $1,000 worth of MYR Group’s shares 5 years ago would now be looking at an investment worth $5,547.
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