First Trust Advisors LP Sells 146,278 Shares of Quanta Services, Inc. (NYSE:PWR)

First Trust Advisors LP reduced its stake in shares of Quanta Services, Inc. (NYSE:PWRFree Report) by 29.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 358,988 shares of the construction company’s stock after selling 146,278 shares during the period. First Trust Advisors LP owned about 0.25% of Quanta Services worth $77,470,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. increased its holdings in Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares in the last quarter. Valley National Advisers Inc. bought a new stake in Quanta Services during the 4th quarter worth approximately $41,000. NBC Securities Inc. bought a new stake in Quanta Services during the 3rd quarter worth approximately $36,000. Vestor Capital LLC bought a new stake in Quanta Services during the 4th quarter worth approximately $42,000. Finally, Planned Solutions Inc. bought a new position in shares of Quanta Services in the fourth quarter valued at approximately $43,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Up 2.2 %

PWR opened at $275.93 on Thursday. The stock has a market cap of $40.39 billion, a PE ratio of 53.47 and a beta of 1.05. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $286.87. The business’s fifty day simple moving average is $262.98 and its 200 day simple moving average is $230.94.

Quanta Services (NYSE:PWRGet Free Report) last released its earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. The business had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. As a group, research analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be paid a dividend of $0.09 per share. The ex-dividend date is Monday, July 1st. 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%.

Analysts Set New Price Targets

PWR has been the subject of several recent analyst reports. Evercore ISI upped their target price on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. TD Cowen upped their target price on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Stifel Nicolaus upped their target price on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Truist Financial reaffirmed a “buy” rating and issued a $305.00 target price (up from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Finally, The Goldman Sachs Group upped their target price on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus target price of $268.85.

Get Our Latest Stock Report on Quanta Services

Insider Activity

In other news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

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.

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

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