Quanta Services, Inc. (NYSE:PWR) Position Reduced by Certuity LLC

Certuity LLC reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 18.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,388 shares of the construction company’s stock after selling 312 shares during the quarter. Certuity LLC’s holdings in Quanta Services were worth $300,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Grove Bank & Trust raised its holdings in shares of Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after purchasing an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after buying an additional 52 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Quanta Services during the 3rd quarter valued at $36,000. Valley National Advisers Inc. bought a new stake in shares of Quanta Services during the 4th quarter worth $41,000. Finally, Planned Solutions Inc. acquired a new position in shares of Quanta Services in the 4th quarter worth $43,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on PWR. The Goldman Sachs Group increased their price target on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Stifel Nicolaus lifted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. KeyCorp began coverage on shares of Quanta Services in a research report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Truist Financial began coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. Finally, Evercore ISI initiated coverage on Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $247.67.

Quanta Services Stock Performance

Shares of PWR stock opened at $256.01 on Thursday. The firm has a market cap of $37.47 billion, a P/E ratio of 51.10 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $265.82. The stock’s 50-day moving average is $249.81 and its two-hundred day moving average is $213.59.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share 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 firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the firm earned $1.54 earnings per share. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. Analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal 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 given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s payout ratio is 7.19%.

Insider Buying and Selling at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the transaction, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was 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 of the company’s stock, 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 worth $11,270,215 over the last three months. Corporate insiders own 1.10% of the company’s stock.

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.