Quanta Services, Inc. (NYSE:PWR) Shares Sold by SVB Wealth LLC

SVB Wealth LLC lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 37.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,382 shares of the construction company’s stock after selling 838 shares during the period. SVB Wealth LLC’s holdings in Quanta Services were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PWR. FMR LLC lifted its stake in Quanta Services by 1.1% in the third quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock valued at $791,171,000 after buying an additional 44,141 shares during the last quarter. Morgan Stanley raised its stake in shares of Quanta Services by 3.3% during the third quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock valued at $288,086,000 after purchasing an additional 49,602 shares in the last quarter. Northern Trust Corp raised its stake in shares of Quanta Services by 3.9% during the third quarter. Northern Trust Corp now owns 1,452,347 shares of the construction company’s stock valued at $271,691,000 after purchasing an additional 54,268 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Quanta Services by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,412,589 shares of the construction company’s stock valued at $264,253,000 after purchasing an additional 40,233 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of Quanta Services by 0.5% during the third quarter. UBS Group AG now owns 947,689 shares of the construction company’s stock valued at $177,284,000 after purchasing an additional 4,800 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. TD Cowen lifted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Truist Financial assumed coverage on shares of Quanta Services in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. The Goldman Sachs Group lifted their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, Evercore ISI started coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $243.23.

Quanta Services Trading Up 0.9 %

Shares of PWR opened at $245.54 on Tuesday. The business’s 50-day moving average price is $243.37 and its 200 day moving average price is $209.86. The stock has a market capitalization of $35.94 billion, a P/E ratio of 49.01 and a beta of 1.11. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. Quanta Services’s revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the business posted $1.54 EPS. Analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were paid a dividend of $0.09 per share. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock valued at $11,270,215 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services 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.