SFE Investment Counsel Trims Position in Quanta Services, Inc. (NYSE:PWR)

SFE Investment Counsel lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.6% during the 4th 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 period. SFE Investment Counsel’s holdings in Quanta Services were worth $1,964,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Twin Capital Management Inc. raised its holdings in Quanta Services by 158.7% in the 4th quarter. Twin Capital Management Inc. now owns 11,725 shares of the construction company’s stock valued at $2,530,000 after buying an additional 7,192 shares during the period. Court Place Advisors LLC purchased a new stake in Quanta Services in the 4th quarter valued at about $205,000. Daiwa Securities Group Inc. raised its holdings in Quanta Services by 42.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 61,519 shares of the construction company’s stock valued at $13,276,000 after buying an additional 18,266 shares during the period. Quantum Private Wealth LLC purchased a new stake in Quanta Services during the fourth quarter worth about $299,000. Finally, Avior Wealth Management LLC increased its stake in Quanta Services by 41.8% during the fourth quarter. Avior Wealth Management LLC now owns 1,380 shares of the construction company’s stock worth $298,000 after purchasing an additional 407 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity

In other news, EVP Donald Wayne sold 595 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total transaction 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 $10,052,597.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Quanta Services news, Director Margaret B. Shannon sold 8,515 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $239.92, for a total value of $2,042,918.80. Following the transaction, the director now directly owns 34,063 shares of the company’s stock, valued at approximately $8,172,394.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the executive vice president now directly owns 41,954 shares in the company, valued at $10,052,597.94. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock worth $11,270,215 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PWR shares. Citigroup boosted their price target on shares of Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Stifel Nicolaus boosted their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. DA Davidson boosted their price objective on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group increased their price objective on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, Truist Financial initiated coverage on Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $239.54.

Quanta Services Stock Performance

PWR stock traded down $0.90 during trading on Thursday, reaching $245.06. 580,739 shares of the company’s stock were exchanged, compared to its average volume of 916,948. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. The company’s fifty day moving average price is $241.27 and its 200-day moving average price is $208.05. The firm has a market cap of $35.87 billion, a PE ratio of 49.21 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, topping analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 EPS. On average, research analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

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.