Avalon Trust Co Has $20.26 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Avalon Trust Co reduced its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,894 shares of the construction company’s stock after selling 780 shares during the quarter. Quanta Services comprises 1.9% of Avalon Trust Co’s portfolio, making the stock its 18th biggest position. Avalon Trust Co’s holdings in Quanta Services were worth $20,262,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PWR. Hazlett Burt & Watson Inc. grew its holdings in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after purchasing an additional 52 shares during the period. Central Bank & Trust Co. boosted its position in shares of Quanta Services by 2.1% during the fourth quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock worth $700,000 after purchasing an additional 66 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Quanta Services by 0.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock valued at $2,340,000 after buying an additional 67 shares in the last quarter. Czech National Bank raised its stake in 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 buying an additional 67 shares during the period. Finally, Gray Wealth Management Inc. lifted its holdings in Quanta Services by 6.2% during the third 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 in the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 0.5 %

Shares of NYSE:PWR traded up $1.33 during midday trading on Friday, reaching $256.33. The company had a trading volume of 970,817 shares, compared to its average volume of 893,668. The business’s 50 day moving average price is $250.69 and its 200 day moving average price is $214.43. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. The company has a quick ratio of 1.44, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The stock has a market cap of $37.52 billion, a PE ratio of 49.68 and a beta of 1.10.

Quanta Services (NYSE:PWR) last released its earnings results 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 16.25%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the business earned $1.54 earnings per share. The firm’s revenue was up 31.0% on a year-over-year basis. Research analysts forecast that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were given a $0.09 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s payout ratio is 6.98%.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of research analyst reports. B. Riley raised their price target on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird lifted their price target on shares of Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday. Evercore ISI assumed coverage on shares of Quanta Services in a report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective on the stock. DA Davidson increased their target price on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Finally, Citigroup lifted their price target on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $255.85.

Insider Transactions at Quanta Services

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction that occurred on 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 owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. In the last three months, insiders sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is owned by company insiders.

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.