Strs Ohio Sells 1,047 Shares of Quanta Services, Inc. (NYSE:PWR)

Strs Ohio reduced its holdings in Quanta Services, Inc. (NYSE:PWR) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,219 shares of the construction company’s stock after selling 1,047 shares during the quarter. Strs Ohio’s holdings in Quanta Services were worth $1,773,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Conning Inc. bought a new stake in Quanta Services in the fourth quarter worth approximately $216,000. Carnegie Capital Asset Management LLC grew its stake in Quanta Services by 24.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock valued at $356,000 after acquiring an additional 325 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Quanta Services in the fourth quarter valued at approximately $1,899,000. Crestwood Advisors Group LLC grew its stake in Quanta Services by 2.2% in the fourth quarter. Crestwood Advisors Group LLC now owns 107,209 shares of the construction company’s stock valued at $23,136,000 after acquiring an additional 2,271 shares during the period. Finally, Aquila Investment Management LLC grew its stake in Quanta Services by 20.0% in the fourth quarter. Aquila Investment Management LLC now owns 6,000 shares of the construction company’s stock valued at $1,295,000 after acquiring an additional 1,000 shares during the period. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Down 1.0 %

PWR stock opened at $243.26 on Friday. The stock has a market cap of $35.61 billion, a P/E ratio of 48.55 and a beta of 1.11. The stock’s fifty day simple moving average is $242.69 and its two-hundred day simple moving average is $209.05. 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, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.21. The firm had revenue of $5.78 billion for 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 business’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 earnings per share. Analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

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

Insider Buying and Selling at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was 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 $1,776,502.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s 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 directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction 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 business’s 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 owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock worth $11,270,215 over the last ninety days. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore ISI assumed coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective for the company. TD Cowen raised their price objective on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Citigroup lifted their target price on Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Stifel Nicolaus lifted their target price on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Truist Financial started coverage on Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.54.

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.