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

Hanlon Investment Management Inc. cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 6.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,817 shares of the construction company’s stock after selling 342 shares during the period. Hanlon Investment Management Inc.’s holdings in Quanta Services were worth $1,436,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Allen Investment Management LLC raised its position in shares of Quanta Services by 1,418.0% in the first quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock valued at $8,676,000 after buying an additional 31,196 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after acquiring an additional 105,355 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after purchasing an additional 1,981 shares in the last quarter. Cetera Investment Advisers raised its stake in Quanta Services by 115.0% during the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after acquiring an additional 21,003 shares in the last quarter. Finally, Czech National Bank increased its position 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. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PWR shares. Robert W. Baird lifted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a report on Friday. Truist Financial increased their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. TD Cowen boosted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus increased their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Jefferies Financial Group began coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $314.27.

Insider Buying and Selling at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the sale, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction on 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,357 shares of company stock worth $53,115,572. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Quanta Services stock opened at $304.32 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. Quanta Services, Inc. has a fifty-two week low of $163.93 and a fifty-two week high of $317.91. The stock has a fifty day moving average of $291.06 and a two-hundred day moving average of $273.46. The company has a market capitalization of $44.92 billion, a price-to-earnings ratio of 56.15 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter last year, the business posted $2.08 EPS. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services’s payout ratio is currently 6.64%.

Quanta Services Company 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.