Park Avenue Securities LLC cut its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 15.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,072 shares of the construction company's stock after selling 2,667 shares during the period. Park Avenue Securities LLC's holdings in Quanta Services were worth $4,196,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of PWR. Nomura Holdings Inc. bought a new stake in shares of Quanta Services in the 4th quarter valued at about $631,000. Wellington Management Group LLP raised its holdings in shares of Quanta Services by 581.3% in the 4th quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company's stock valued at $25,252,000 after purchasing an additional 99,840 shares during the period. Vanguard Group Inc. raised its holdings in shares of Quanta Services by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company's stock valued at $3,503,702,000 after purchasing an additional 191,334 shares during the period. Allen Investment Management LLC raised its holdings in shares of Quanta Services by 1,418.0% in the 1st quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company's stock valued at $8,676,000 after purchasing an additional 31,196 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Quanta Services by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company's stock valued at $9,366,000 after purchasing an additional 1,981 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Quanta Services
In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of the company's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company's stock.
Quanta Services Price Performance
Shares of NYSE PWR traded up $7.32 during trading hours on Friday, hitting $305.72. 619,574 shares of the stock were exchanged, compared to its average volume of 726,089. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. The company has a market cap of $45.04 billion, a PE ratio of 59.25 and a beta of 1.01. The company's fifty day simple moving average is $270.34 and its two-hundred day simple moving average is $265.58. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $306.50.
Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the business posted $1.47 EPS. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current year.
Quanta Services Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be given a $0.09 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services's dividend payout ratio is currently 6.98%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on PWR shares. Truist Financial reaffirmed a "buy" rating and issued a $319.00 target price (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Robert W. Baird increased their price target on shares of Quanta Services from $287.00 to $288.00 and gave the company an "outperform" rating in a report on Friday, July 19th. Northland Securities increased their price target on shares of Quanta Services from $264.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. Citigroup increased their price target on shares of Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a report on Friday. Finally, B. Riley increased their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and an average target price of $290.23.
Read Our Latest Analysis on PWR
About Quanta Services
(
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.
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