WealthTrust Axiom LLC Cuts Stock Position in Quanta Services, Inc. (NYSE:PWR)

WealthTrust Axiom LLC lowered its position in Quanta Services, Inc. (NYSE:PWR) by 3.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,234 shares of the construction company’s stock after selling 104 shares during the quarter. WealthTrust Axiom LLC’s holdings in Quanta Services were worth $698,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC grew its position in Quanta Services by 1.1% during the 3rd quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock worth $791,171,000 after purchasing an additional 44,141 shares during the last quarter. Morgan Stanley grew its position in Quanta Services by 3.3% during the 3rd quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock worth $288,086,000 after purchasing an additional 49,602 shares during the last quarter. Northern Trust Corp grew its position in Quanta Services by 3.9% during the 3rd quarter. Northern Trust Corp now owns 1,452,347 shares of the construction company’s stock worth $271,691,000 after purchasing an additional 54,268 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Quanta Services by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,412,589 shares of the construction company’s stock worth $264,253,000 after purchasing an additional 40,233 shares during the last quarter. Finally, UBS Group AG grew its position in Quanta Services by 0.5% during the 3rd quarter. UBS Group AG now owns 947,689 shares of the construction company’s stock worth $177,284,000 after purchasing an additional 4,800 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insiders Place Their Bets

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction 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 owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Wayne sold 8,842 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $242.27, for a total transaction of $2,142,151.34. Following the sale, the executive vice president now directly owns 44,129 shares of the company’s stock, valued at approximately $10,691,132.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the subject of several research reports. TD Cowen lifted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. DA Davidson lifted their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group lifted their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Evercore ISI initiated coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.67.

Quanta Services Stock Performance

Shares of PWR traded down $4.29 during trading hours on Tuesday, hitting $258.05. The stock had a trading volume of 557,689 shares, compared to its average volume of 918,800. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The firm has a 50-day moving average price of $247.93 and a 200 day moving average price of $212.69. The firm has a market capitalization of $37.77 billion, a price-to-earnings ratio of 52.36 and a beta of 1.11. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $265.82.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share 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 analysts’ expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. As a group, research analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio is presently 7.19%.

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.