Quanta Services, Inc. (NYSE:PWR) Stock Position Lessened by Paradiem LLC

Paradiem LLC decreased its holdings in Quanta Services, Inc. (NYSE:PWR) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,343 shares of the construction company’s stock after selling 473 shares during the quarter. Paradiem LLC’s holdings in Quanta Services were worth $3,527,000 as of its most recent filing with the SEC.

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

Quanta Services Trading Up 2.5 %

Shares of NYSE PWR traded up $6.47 during mid-day trading on Friday, hitting $261.66. 1,180,022 shares of the company traded hands, compared to its average volume of 783,667. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82. The stock has a market capitalization of $38.30 billion, a price-to-earnings ratio of 52.23 and a beta of 1.11. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average of $246.91 and a two-hundred day moving average of $211.87.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were paid 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 is currently 7.19%.

Insider Buying and Selling

In related news, EVP Donald Wayne sold 595 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of the sale, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Quanta Services news, EVP Donald Wayne sold 595 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the transaction, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,125 shares of company stock valued at $11,270,215. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

PWR has been the subject of several research analyst reports. Stifel Nicolaus upped their price objective on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. DA Davidson upped their price objective on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Citigroup upped their price objective on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. The Goldman Sachs Group upped their price objective on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Evercore ISI initiated coverage on Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $247.67.

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.