M&T Bank Corp Sells 536 Shares of Quanta Services, Inc. (NYSE:PWR)

M&T Bank Corp decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 4.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,069 shares of the construction company’s stock after selling 536 shares during the quarter. M&T Bank Corp’s holdings in Quanta Services were worth $2,604,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust grew its holdings in Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after acquiring an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its position in shares of Quanta Services by 47.3% in 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 during the period. NBC Securities Inc. bought a new position in shares of Quanta Services during the third quarter valued at approximately $36,000. Valley National Advisers Inc. bought a new position in shares of Quanta Services during the fourth quarter valued at approximately $41,000. Finally, Planned Solutions Inc. bought a new position in Quanta Services in the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred on 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 directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Quanta Services news, Director Margaret B. Shannon sold 8,515 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the sale, the director now directly owns 34,063 shares of the company’s stock, valued at approximately $8,172,394.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now directly 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. In the last quarter, insiders have sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

PWR has been the topic of several recent research reports. B. Riley increased their target price on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. DA Davidson lifted their target price on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday. Evercore ISI increased their price target on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday. Robert W. Baird lifted their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Truist Financial reissued a “buy” rating and set a $305.00 target price (up previously from $301.00) on shares of Quanta Services in a research report on Monday. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $262.00.

Quanta Services Trading Down 0.8 %

NYSE PWR opened at $264.86 on Thursday. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $271.96. The company has a fifty day simple moving average of $252.43 and a two-hundred day simple moving average of $216.74. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The stock has a market cap of $38.77 billion, a P/E ratio of 51.33 and a beta of 1.10.

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, topping analysts’ consensus estimates 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 16.25% and a net margin of 3.57%. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the business posted $1.54 EPS. On average, analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a $0.09 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio is currently 6.98%.

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.