Dakota Wealth Management Cuts Stake in Quanta Services, Inc. (NYSE:PWR)

Dakota Wealth Management cut its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 31.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,723 shares of the construction company's stock after selling 9,819 shares during the period. Dakota Wealth Management's holdings in Quanta Services were worth $6,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PWR. EntryPoint Capital LLC purchased a new stake in Quanta Services in the 1st quarter worth about $25,000. Private Ocean LLC purchased a new position in Quanta Services during the 1st quarter valued at $26,000. Salomon & Ludwin LLC bought a new position in Quanta Services in the 1st quarter valued at $26,000. Cambridge Trust Co. purchased a new stake in Quanta Services in the first quarter worth $26,000. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Quanta Services during the second quarter worth $33,000. 90.49% of the stock is owned by institutional investors.

Insider Buying and Selling at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm'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 sale, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm's 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 sale, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James Redgie Probst sold 34,000 shares of the company's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the completion of the transaction, the chief operating officer now owns 29,002 shares of the company's stock, valued at approximately $7,541,390.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on PWR. Wolfe Research began coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an "outperform" rating and a $313.00 price target on the stock. Northland Securities lifted their target price on Quanta Services from $264.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. Truist Financial raised their price target on Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Robert W. Baird increased their target price on shares of Quanta Services from $287.00 to $288.00 and gave the stock an "outperform" rating in a report on Friday, July 19th. Finally, B. Riley upped their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $308.07.

Quanta Services Stock Performance

NYSE:PWR traded down $1.70 during trading hours on Friday, hitting $308.17. 667,769 shares of the company were exchanged, compared to its average volume of 887,092. The company's 50 day moving average price is $285.59 and its 200-day moving average price is $270.48. The stock has a market capitalization of $45.40 billion, a price-to-earnings ratio of 58.48 and a beta of 1.01. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $317.91. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25.

Quanta Services (NYSE:PWR - Get Free Report) last released its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm's revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.47 EPS. As a group, research analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services's dividend payout ratio is presently 6.79%.

About Quanta Services

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.