SFE Investment Counsel Sells 440 Shares of Quanta Services, Inc. (NYSE:PWR)

SFE Investment Counsel lessened its position in Quanta Services, Inc. (NYSE:PWR) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,100 shares of the construction company’s stock after selling 440 shares during the quarter. SFE Investment Counsel’s holdings in Quanta Services were worth $1,964,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Grove Bank & Trust lifted its stake 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 valued at $30,000 after purchasing an additional 68 shares during the last quarter. Perkins Coie Trust Co purchased a new position in shares of Quanta Services in the 3rd quarter valued at about $30,000. Hazlett Burt & Watson Inc. increased its stake in 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 buying an additional 52 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Quanta Services during the 4th quarter worth approximately $26,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Quanta Services by 1,730.0% in the third quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock valued at $34,000 after acquiring an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR stock traded down $0.90 during midday trading on Thursday, reaching $245.06. The company had a trading volume of 580,739 shares, compared to its average volume of 916,948. The company has a market capitalization of $35.87 billion, a P/E ratio of 49.21 and a beta of 1.11. 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 1 year low of $153.74 and a 1 year high of $265.82. The firm has a 50-day moving average price of $241.27 and a 200-day moving average price of $208.05.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the business posted $1.54 EPS. The business’s quarterly revenue was up 31.0% on a year-over-year basis. On average, research analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were issued a $0.09 dividend. 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%.

Insiders Place Their Bets

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated Tuesday, February 27th. The shares were 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 of the company’s stock, valued at $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup upped their price objective on Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Stifel Nicolaus boosted their target price on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. DA Davidson upped their price target on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Evercore ISI started coverage on Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. Finally, KeyCorp began coverage on Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $239.54.

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.