Perigon Wealth Management LLC Sells 155 Shares of Quanta Services, Inc. (NYSE:PWR)

Perigon Wealth Management LLC cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 12.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,134 shares of the construction company’s stock after selling 155 shares during the period. Perigon Wealth Management LLC’s holdings in Quanta Services were worth $245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PWR. Panagora Asset Management Inc. boosted its holdings in Quanta Services by 79.1% in the 1st quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company’s stock worth $1,509,000 after buying an additional 5,063 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Quanta Services by 6.6% in the 1st 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 purchasing an additional 1,181 shares during the period. Great West Life Assurance Co. Can boosted its holdings in Quanta Services by 2.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 26,648 shares of the construction company’s stock valued at $3,655,000 after purchasing an additional 668 shares during the period. Raymond James Trust N.A. boosted its holdings in Quanta Services by 8.3% in the 1st quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company’s stock valued at $652,000 after purchasing an additional 379 shares during the period. Finally, Blair William & Co. IL boosted its holdings in Quanta Services by 21.7% in the 1st quarter. Blair William & Co. IL now owns 16,156 shares of the construction company’s stock valued at $2,126,000 after purchasing 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, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Donald Wayne sold 1,101 shares of the company’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 transaction of $288,395.94. Following the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock valued at $11,270,215. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

PWR has been the subject of several analyst reports. Evercore ISI initiated coverage on shares of Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target for the company. Stifel Nicolaus raised their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Citigroup raised their price target on shares of Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a report on Friday, January 26th. TD Cowen lifted 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. Finally, DA Davidson lifted their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $239.54.

Quanta Services Trading Down 1.1 %

Shares of NYSE PWR opened at $245.97 on Thursday. The firm’s 50 day moving average price is $241.27 and its 200-day moving average price is $208.05. The company has a market cap of $36.01 billion, a PE ratio of 49.10 and a beta of 1.11. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $265.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the company earned $1.54 earnings per share. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. On average, equities research analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were issued a dividend of $0.09 per share. 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 7.19%.

About Quanta Services

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.