UMB Bank n.a. Decreases Position in Quanta Services, Inc. (NYSE:PWR)

UMB Bank n.a. cut its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,152 shares of the construction company's stock after selling 1,672 shares during the period. UMB Bank n.a.'s holdings in Quanta Services were worth $14,953,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Elo Mutual Pension Insurance Co grew its stake in shares of Quanta Services by 4.7% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 12,693 shares of the construction company's stock valued at $2,739,000 after acquiring an additional 571 shares during the period. Ethic Inc. increased its stake in shares of Quanta Services by 3.5% in the fourth quarter. Ethic Inc. now owns 25,470 shares of the construction company's stock worth $5,496,000 after purchasing an additional 869 shares in the last quarter. Blackstone Inc. bought a new stake in shares of Quanta Services during the 4th quarter valued at $5,395,000. Fullerton Fund Management Co Ltd. lifted its stake in shares of Quanta Services by 126.9% during the 4th quarter. Fullerton Fund Management Co Ltd. now owns 34,265 shares of the construction company's stock valued at $7,394,000 after buying an additional 19,162 shares in the last quarter. Finally, Forest Avenue Capital Management LP purchased a new stake in Quanta Services in the 4th quarter worth $13,725,000. Institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PWR shares. Truist Financial boosted their price objective on Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research report on Wednesday. Northland Securities increased their price objective 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. Stifel Nicolaus boosted their target price on shares of Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a report on Thursday. B. Riley raised their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Finally, Robert W. Baird boosted their price target on shares of Quanta Services from $287.00 to $288.00 and gave the stock an "outperform" rating in a research note on Friday, July 19th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $299.93.

Insider Transactions at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares of the company's stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares of the company's stock, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Karl W. Studer sold 23,357 shares of the firm'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 directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 202,357 shares of company stock worth $53,115,572. Insiders own 1.10% of the company's stock.

Quanta Services Trading Down 0.2 %

PWR stock traded down $0.62 during mid-day trading on Thursday, reaching $306.99. 594,169 shares of the stock traded hands, compared to its average volume of 905,587. The business has a 50-day moving average price of $274.40 and a two-hundred day moving average price of $266.88. The stock has a market capitalization of $44.94 billion, a PE ratio of 59.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $312.52.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the company posted $1.47 EPS. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts expect 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. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date is Tuesday, October 1st. Quanta Services's dividend payout ratio is currently 6.98%.

Quanta Services Company Profile

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.