Neville Rodie & Shaw Inc. lessened its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 5.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 153,199 shares of the construction company's stock after selling 8,546 shares during the period. Quanta Services makes up about 3.4% of Neville Rodie & Shaw Inc.'s holdings, making the stock its 5th largest position. Neville Rodie & Shaw Inc. owned 0.10% of Quanta Services worth $45,676,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in shares of Quanta Services during the first quarter valued at approximately $25,000. Private Ocean LLC bought a new stake in Quanta Services during the first quarter worth $26,000. Salomon & Ludwin LLC bought a new stake in Quanta Services during the first quarter worth $26,000. Cambridge Trust Co. bought a new stake in Quanta Services during the first quarter worth $26,000. Finally, Valley Wealth Managers Inc. bought a new stake in Quanta Services during the second quarter worth $33,000. Institutional investors and hedge funds own 90.49% of the company's stock.
Insider Buying and Selling
In related news, insider Karl W. Studer sold 23,357 shares of the business's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Karl W. Studer sold 23,357 shares of the company's stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now owns 21,286 shares of the company's stock, valued at $5,490,297.98. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock worth $53,115,572 over the last ninety days. 1.10% of the stock is owned by corporate insiders.
Quanta Services Stock Performance
Shares of NYSE:PWR traded down $0.69 during midday trading on Thursday, reaching $298.40. 765,473 shares of the company traded hands, compared to its average volume of 911,404. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $306.50. The firm has a market capitalization of $43.96 billion, a price-to-earnings ratio of 57.98 and a beta of 1.01. The firm's fifty day moving average price is $268.37 and its two-hundred day moving average price is $264.67.
Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the previous year, the business earned $1.47 earnings per share. The firm's revenue was up 10.8% on a year-over-year basis. On average, equities analysts expect that Quanta Services, Inc. will post 7.82 earnings per share for the current year.
Quanta Services Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services's payout ratio is 6.98%.
Analyst Ratings Changes
A number of analysts recently commented on the company. Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday, September 4th. They set a "hold" rating and a $256.00 price target on the stock. Truist Financial reiterated a "buy" rating and set a $319.00 price target (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. TD Cowen lifted their price target on Quanta Services from $270.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, August 8th. Citigroup boosted their target price on Quanta Services from $299.00 to $302.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. Finally, Robert W. Baird boosted their target price on Quanta Services from $287.00 to $288.00 and gave the company an "outperform" rating in a research note on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $286.69.
Read Our Latest Research Report on PWR
Quanta Services Company Profile
(
Free Report)
Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.
Further Reading
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