WealthTrust Axiom LLC Sells 104 Shares of Quanta Services, Inc. (NYSE:PWR)

WealthTrust Axiom LLC reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,234 shares of the construction company’s stock after selling 104 shares during the period. WealthTrust Axiom LLC’s holdings in Quanta Services were worth $698,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. lifted its holdings in shares of Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after acquiring an additional 52 shares during the last quarter. Central Bank & Trust Co. lifted its holdings in shares of Quanta Services by 2.1% during the 4th quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock worth $700,000 after acquiring an additional 66 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Quanta Services by 0.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock worth $2,340,000 after acquiring an additional 67 shares during the last quarter. Czech National Bank lifted its holdings in shares of Quanta Services by 0.3% during the 4th quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock worth $5,491,000 after acquiring an additional 67 shares during the last quarter. Finally, Gray Wealth Management Inc. lifted its holdings in shares of Quanta Services by 6.2% during the 3rd quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company’s stock worth $218,000 after acquiring an additional 68 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Insider Transactions at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Quanta Services news, Director Margaret B. Shannon sold 8,515 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the completion of the sale, the director now directly owns 34,063 shares in the company, valued at approximately $8,172,394.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,125 shares of company stock valued at $11,270,215. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PWR shares. Truist Financial started coverage on shares of Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. DA Davidson boosted their price target on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group boosted their price target on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Citigroup boosted their price target on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Finally, KeyCorp started coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $247.67.

Quanta Services Trading Down 1.6 %

Shares of NYSE PWR traded down $4.29 during midday trading on Tuesday, hitting $258.05. 557,689 shares of the company traded hands, compared to its average volume of 918,800. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $265.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The stock has a 50-day moving average price of $247.93 and a 200 day moving average price of $212.69. The firm has a market cap of $37.77 billion, a P/E ratio of 52.36 and a beta of 1.11.

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

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is 7.19%.

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.