MCF Advisors LLC Sells 108 Shares of Quanta Services, Inc. (NYSE:PWR)

MCF Advisors LLC cut its position in shares of Quanta Services, Inc. (NYSE:PWR) by 32.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 223 shares of the construction company’s stock after selling 108 shares during the period. MCF Advisors LLC’s holdings in Quanta Services were worth $48,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. CWM LLC boosted its stake in Quanta Services by 1.7% during the third quarter. CWM LLC now owns 4,153 shares of the construction company’s stock valued at $777,000 after buying an additional 70 shares during the last quarter. AE Wealth Management LLC raised its position in Quanta Services by 22.0% during the third quarter. AE Wealth Management LLC now owns 1,593 shares of the construction company’s stock valued at $298,000 after purchasing an additional 287 shares during the period. Geneos Wealth Management Inc. raised its position in Quanta Services by 1,730.0% during the third quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock valued at $34,000 after purchasing an additional 173 shares during the period. HB Wealth Management LLC raised its position in Quanta Services by 18.0% during the third quarter. HB Wealth Management LLC now owns 2,522 shares of the construction company’s stock valued at $472,000 after purchasing an additional 385 shares during the period. Finally, Ziegler Capital Management LLC raised its position in Quanta Services by 27.0% during the third quarter. Ziegler Capital Management LLC now owns 29,455 shares of the construction company’s stock valued at $5,510,000 after purchasing an additional 6,256 shares during the period. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Up 0.9 %

PWR opened at $245.54 on Tuesday. The stock’s fifty day moving average is $243.37 and its two-hundred day moving average is $209.86. The company has a market capitalization of $35.94 billion, a P/E ratio of 49.01 and a beta of 1.11. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $265.82. 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 (NYSE:PWR) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. The company had revenue of $5.78 billion for 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%. Quanta Services’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period last year, the business posted $1.54 EPS. Analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PWR shares. TD Cowen upped their price objective on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Truist Financial started coverage on Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. KeyCorp assumed coverage on Quanta Services in a research report on Wednesday, January 10th. They set a “sector weight” rating on the stock. The Goldman Sachs Group increased their price target on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, Citigroup increased their price target on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.23.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the sale, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the 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 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 can be accessed through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the 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 sale, the director now directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is currently owned by corporate insiders.

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.