Mutual of America Capital Management LLC Sells 1,722 Shares of Quanta Services, Inc. (NYSE:PWR)

Mutual of America Capital Management LLC lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,821 shares of the construction company’s stock after selling 1,722 shares during the period. Mutual of America Capital Management LLC’s holdings in Quanta Services were worth $6,220,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PWR. ICA Group Wealth Management LLC bought a new stake in shares of Quanta Services in the fourth quarter valued at approximately $26,000. Coppell Advisory Solutions Corp. bought a new stake in Quanta Services during the fourth quarter worth $28,000. Perkins Coie Trust Co bought a new stake in Quanta Services during the third quarter worth $30,000. Grove Bank & Trust lifted its stake in Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after purchasing an additional 68 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake 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 worth $34,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $254.69 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $238.74 and a two-hundred day moving average price of $206.81. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. The company has a market cap of $37.12 billion, a P/E ratio of 50.84 and a beta of 1.11.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the business posted $1.54 EPS. The business’s revenue was up 31.0% compared to the same quarter last year. As a group, analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th will be given a dividend of $0.09 per share. The ex-dividend date is Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

Analyst Ratings Changes

PWR has been the subject of several research analyst reports. Truist Financial initiated coverage on shares of Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target for the company. The Goldman Sachs Group upped their price target on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. TD Cowen upped their price target 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. KeyCorp initiated coverage on shares of Quanta Services in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Finally, Evercore ISI assumed coverage on shares of Quanta Services in a report on Tuesday, February 13th. They set 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 given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $239.54.

Insider Transactions at Quanta Services

In other news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction dated 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 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 SEC, which is available through this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock valued at $11,270,215 in the last 90 days. 1.20% of the stock is currently owned by corporate insiders.

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.