Hanlon Investment Management Inc. Cuts Stock Position in Quanta Services, Inc. (NYSE:PWR)

Hanlon Investment Management Inc. trimmed its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 6.6% in the third quarter, Holdings Channel reports. 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 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PWR. Private Advisor Group LLC raised its stake in shares of Quanta Services by 3.4% during the first quarter. Private Advisor Group LLC now owns 8,589 shares of the construction company’s stock valued at $2,232,000 after purchasing an additional 286 shares during the period. Graypoint LLC purchased a new stake in Quanta Services during the 1st quarter worth $207,000. Salomon & Ludwin LLC acquired a new position in Quanta Services in the 1st quarter worth $26,000. United Community Bank boosted its position in Quanta Services by 16.7% in the 1st quarter. United Community Bank now owns 594 shares of the construction company’s stock valued at $154,000 after buying an additional 85 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in shares of Quanta Services during the first quarter valued at about $3,121,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on 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 sale, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the business’s 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 sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,357 shares of company stock worth $53,115,572. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. UBS Group boosted their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group initiated coverage on Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. Truist Financial raised their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Northland Securities reiterated an “outperform” rating and set a $328.00 price objective (up from $280.00) on shares of Quanta Services in a research note on Friday. Finally, Wolfe Research assumed coverage on shares of Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Stock Up 0.3 %

NYSE:PWR opened at $304.32 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $291.06 and a 200-day moving average of $273.46. The firm has a market capitalization of $44.92 billion, a PE ratio of 56.15 and a beta of 1.01. Quanta Services, Inc. has a 52 week low of $163.93 and a 52 week high of $317.91.

Quanta Services (NYSE:PWR) last issued 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. The firm had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.08 EPS. Analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

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