Robeco Institutional Asset Management B.V. Reduces Stock Position in Quanta Services, Inc. (NYSE:PWR)

Robeco Institutional Asset Management B.V. trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 10.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,900 shares of the construction company’s stock after selling 16,602 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.10% of Quanta Services worth $42,307,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PWR. EntryPoint Capital LLC acquired a new stake in Quanta Services during the 1st quarter valued at approximately $25,000. Cambridge Trust Co. acquired a new stake in Quanta Services during the 1st quarter worth about $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Quanta Services during the 2nd quarter valued at about $33,000. Quest Partners LLC acquired a new position in shares of Quanta Services in the 2nd quarter valued at about $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Quanta Services in the second quarter worth about $38,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 3.4 %

Shares of NYSE PWR opened at $314.62 on Wednesday. The stock has a market cap of $46.44 billion, a PE ratio of 58.05 and a beta of 1.01. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12-month low of $163.93 and a 12-month high of $317.91. The company has a 50-day moving average of $291.95 and a 200 day moving average of $273.96.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the business earned $2.08 earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. Quanta Services’s payout ratio is 6.64%.

Analyst Ratings Changes

A number of research analysts have issued reports on PWR shares. TD Cowen boosted their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Truist Financial raised their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Robert W. Baird lifted their price target on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus increased their price target on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Insider Buying and Selling

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the sale, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,357 shares of company stock worth $53,115,572. Insiders own 1.10% of the company’s stock.

Quanta Services Company 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.