Prudent Man Advisors LLC Lowers Position in Quanta Services, Inc. (NYSE:PWR)

Prudent Man Advisors LLC reduced its position in Quanta Services, Inc. (NYSE:PWR) by 30.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,770 shares of the construction company’s stock after selling 1,208 shares during the quarter. Prudent Man Advisors LLC’s holdings in Quanta Services were worth $826,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versor Investments LP acquired a new position in shares of Quanta Services in the 3rd quarter valued at about $406,000. Wealth Enhancement Advisory Services LLC increased its holdings in Quanta Services by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after purchasing an additional 1,981 shares in the last quarter. Cetera Investment Advisers raised its position in Quanta Services by 115.0% in the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after purchasing an additional 21,003 shares during the period. Czech National Bank lifted its stake in shares of Quanta Services by 8.9% during the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after purchasing an additional 2,264 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Quanta Services by 892.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after buying an additional 910 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Down 0.2 %

PWR stock opened at $323.33 on Monday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm’s 50-day simple moving average is $301.80 and its 200 day simple moving average is $277.83. The stock has a market cap of $47.73 billion, a PE ratio of 59.65 and a beta of 1.01. Quanta Services, Inc. has a fifty-two week low of $180.97 and a fifty-two week high of $335.00.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The business’s revenue was up 15.5% on a year-over-year basis. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.11%. Quanta Services’s payout ratio is 6.64%.

Insiders Place Their Bets

In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The trade was a 68.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Jefferies Financial Group began coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective for the company. UBS Group boosted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. started coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price on the stock. Truist Financial increased their price target on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Stifel Nicolaus increased their target price on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

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.