Quanta Services, Inc. (NYSE:PWR) Shares Sold by Tevis Investment Management

Tevis Investment Management lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 10.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,438 shares of the construction company’s stock after selling 159 shares during the period. Tevis Investment Management’s holdings in Quanta Services were worth $429,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PWR. EntryPoint Capital LLC acquired a new stake in Quanta Services during the first quarter valued at $25,000. Salomon & Ludwin LLC acquired a new stake in shares of Quanta Services during the 1st quarter valued at about $26,000. Cambridge Trust Co. purchased a new position in shares of Quanta Services in the 1st quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new position in Quanta Services in the 2nd quarter worth about $33,000. Finally, Quest Partners LLC purchased a new position in Quanta Services during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Trading Down 0.6 %

Shares of PWR stock opened at $311.50 on Thursday. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $317.91. The business has a fifty day simple moving average of $288.27 and a 200-day simple moving average of $271.82. The stock has a market cap of $45.89 billion, a P/E ratio of 58.77 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.08 EPS. On average, analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.79%.

Insider Transactions at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,357 shares of company stock valued at $53,115,572. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Northland Securities increased their target price on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Wolfe Research initiated coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. B. Riley boosted their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Citigroup boosted their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $308.07.

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.