Fiduciary Alliance LLC Sells 1,175 Shares of Quanta Services, Inc. (NYSE:PWR)

Fiduciary Alliance LLC cut its stake in shares of Quanta Services, Inc. (NYSE:PWRFree Report) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,677 shares of the construction company’s stock after selling 1,175 shares during the quarter. Fiduciary Alliance LLC’s holdings in Quanta Services were worth $5,110,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PWR. Panagora Asset Management Inc. lifted its holdings in shares of Quanta Services by 79.1% during the first quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company’s stock valued at $1,509,000 after acquiring an additional 5,063 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Quanta Services by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,067 shares of the construction company’s stock valued at $2,509,000 after acquiring an additional 1,181 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Quanta Services by 2.6% during the first quarter. Great West Life Assurance Co. Can now owns 26,648 shares of the construction company’s stock valued at $3,655,000 after acquiring an additional 668 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of Quanta Services by 8.3% during the first quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company’s stock valued at $652,000 after acquiring an additional 379 shares during the period. Finally, Blair William & Co. IL lifted its holdings in shares of Quanta Services by 21.7% during the first quarter. Blair William & Co. IL now owns 16,156 shares of the construction company’s stock valued at $2,126,000 after acquiring an additional 2,884 shares during the period. 90.49% of the stock is owned by institutional investors.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 595 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the sale, the executive vice president now owns 41,954 shares in the company, valued at approximately $10,052,597.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Donald Wayne sold 595 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total transaction of $142,567.95. Following the sale, the executive vice president now owns 41,954 shares in the company, valued at approximately $10,052,597.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the company’s 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 owns 263,725 shares in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,024 shares of company stock worth $10,981,819. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Stifel Nicolaus lifted their price target on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. The Goldman Sachs Group lifted their price target on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a report on Monday, February 26th. Truist Financial assumed coverage on Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. Citigroup lifted their price target on Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a report on Friday, January 26th. Finally, Evercore ISI initiated coverage on Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $239.54.

Read Our Latest Report on Quanta Services

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $259.19 on Wednesday. The stock has a market capitalization of $37.78 billion, a P/E ratio of 51.73 and a beta of 1.10. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $260.60. The business has a 50-day moving average price of $223.14 and a two-hundred day moving average price of $201.11. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWRGet Free Report) last posted its earnings results 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 company had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.54 EPS. Equities analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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