Quanta Services, Inc. (NYSE:PWR) Holdings Cut by TBH Global Asset Management LLC

TBH Global Asset Management LLC decreased its stake in Quanta Services, Inc. (NYSE:PWR) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,471 shares of the construction company’s stock after selling 66 shares during the quarter. TBH Global Asset Management LLC’s holdings in Quanta Services were worth $965,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Millington Financial Advisors LLC grew its stake in Quanta Services by 1.5% in the 3rd quarter. Millington Financial Advisors LLC now owns 8,340 shares of the construction company’s stock valued at $1,560,000 after buying an additional 120 shares during the last quarter. Private Advisor Group LLC grew its stake in Quanta Services by 2.0% in the 3rd quarter. Private Advisor Group LLC now owns 7,875 shares of the construction company’s stock valued at $1,473,000 after buying an additional 152 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Quanta Services by 19.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 118,666 shares of the construction company’s stock valued at $22,199,000 after buying an additional 18,918 shares during the last quarter. NBC Securities Inc. acquired a new position in Quanta Services in the 3rd quarter valued at $36,000. Finally, Pinnacle Financial Partners Inc grew its stake in Quanta Services by 2.2% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 42,851 shares of the construction company’s stock valued at $8,016,000 after buying an additional 906 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR traded up $6.88 on Friday, hitting $283.43. 1,165,524 shares of the stock were exchanged, compared to its average volume of 942,191. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $285.97. The company has a market capitalization of $41.49 billion, a PE ratio of 53.60 and a beta of 1.10. The business’s fifty day moving average is $258.40 and its 200 day moving average is $224.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business had revenue of $5.03 billion for the quarter, compared to the consensus estimate of $4.96 billion. Research analysts anticipate that Quanta Services, Inc. will post 7.69 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Insider Transactions at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Margaret B. Shannon sold 8,515 shares of Quanta Services stock in a transaction on Friday, March 1st. The shares were sold at an average price of $239.92, for a total value of $2,042,918.80. Following the completion of the sale, the director now owns 34,063 shares of the company’s stock, valued at approximately $8,172,394.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PWR. Citigroup raised their target price on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Stifel Nicolaus raised their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. B. Riley raised their price target on shares of Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Robert W. Baird raised their price target on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, TD Cowen raised their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $262.00.

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.