Mark Sheptoff Financial Planning LLC Sells 100 Shares of Quanta Services, Inc. (NYSE:PWR)

Mark Sheptoff Financial Planning LLC cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 6.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,450 shares of the construction company’s stock after selling 100 shares during the quarter. Mark Sheptoff Financial Planning LLC’s holdings in Quanta Services were worth $313,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in Quanta Services in the fourth quarter valued at $335,777,000. Nordea Investment Management AB boosted its position in shares of Quanta Services by 8,297.7% during the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after purchasing an additional 901,548 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of Quanta Services by 797.6% during the 4th quarter. Corient Private Wealth LLC now owns 613,934 shares of the construction company’s stock worth $132,487,000 after purchasing an additional 545,534 shares in the last quarter. UBS Group AG boosted its position in shares of Quanta Services by 31.5% during the 4th quarter. UBS Group AG now owns 1,246,229 shares of the construction company’s stock worth $268,936,000 after purchasing an additional 298,540 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in shares of Quanta Services by 1,494.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 304,126 shares of the construction company’s stock worth $56,893,000 after purchasing an additional 285,047 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore ISI raised 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, May 7th. Truist Financial reiterated a “buy” rating and issued a $305.00 price objective (up previously from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Robert W. Baird increased their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Stifel Nicolaus raised their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, 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. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $262.00.

Insider Buying and Selling

In related news, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the sale, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is owned by insiders.

Quanta Services Stock Up 3.3 %

Shares of NYSE:PWR traded up $8.92 during trading on Thursday, reaching $280.02. 873,409 shares of the stock traded hands, compared to its average volume of 926,684. The stock has a 50-day moving average of $257.72 and a two-hundred day moving average of $223.82. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $280.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The stock has a market cap of $40.99 billion, a P/E ratio of 54.17 and a beta of 1.10.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The firm had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.96 billion. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio is currently 6.98%.

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.