Cozad Asset Management Inc. Decreases Stake in Quanta Services, Inc. (NYSE:PWR)

Cozad Asset Management Inc. lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 5.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 17,595 shares of the construction company’s stock after selling 920 shares during the quarter. Cozad Asset Management Inc.’s holdings in Quanta Services were worth $3,797,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB raised its position in shares of Quanta Services by 8,297.7% in the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after purchasing an additional 901,548 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Quanta Services by 1,494.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 304,126 shares of the construction company’s stock valued at $56,893,000 after purchasing an additional 285,047 shares in the last quarter. Scout Investments Inc. raised its position in shares of Quanta Services by 20.3% in the 3rd quarter. Scout Investments Inc. now owns 921,186 shares of the construction company’s stock valued at $162,718,000 after purchasing an additional 155,586 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in shares of Quanta Services in the 4th quarter valued at approximately $31,730,000. Finally, Trust Point Inc. acquired a new position in shares of Quanta Services in the 4th quarter valued at approximately $28,072,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PWR. DA Davidson upped their target price on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. KeyCorp assumed coverage on Quanta Services in a research report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Citigroup lifted their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Stifel Nicolaus increased their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Evercore ISI started coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $247.67.

Insider Transactions at Quanta Services

In other news, Director Worthing Jackman sold 9,572 shares of the business’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 transaction of $2,271,531.32. Following the completion of the transaction, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the transaction, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 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. Over the last three months, insiders sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR traded down $3.81 on Tuesday, hitting $258.53. The stock had a trading volume of 383,205 shares, compared to its average volume of 916,597. The company’s 50-day moving average is $247.93 and its two-hundred day moving average is $212.69. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $265.82. The stock has a market cap of $37.84 billion, a price-to-earnings ratio of 52.36 and a beta of 1.11. 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 issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion during 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%. The business’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.54 earnings per share. On average, analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current 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 dividend of $0.09 per share. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is presently 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.