Mn Services Vermogensbeheer B.V. Sells 300 Shares of Quanta Services, Inc. (NYSE:PWR)

Mn Services Vermogensbeheer B.V. cut its holdings in Quanta Services, Inc. (NYSE:PWR) by 0.5% during the 3rd quarter, Holdings Channel reports. The firm owned 56,700 shares of the construction company’s stock after selling 300 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Quanta Services were worth $16,905,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PWR. EntryPoint Capital LLC bought a new stake in shares of Quanta Services during the 1st quarter valued at $25,000. Salomon & Ludwin LLC bought a new position in Quanta Services during the first quarter valued at approximately $26,000. Cambridge Trust Co. purchased a new position in shares of Quanta Services in the 1st quarter worth $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services during the 2nd quarter valued at about $33,000. Finally, Quest Partners LLC bought a new position in Quanta Services in the second quarter worth approximately $35,000. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction dated 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 directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Stock Performance

PWR opened at $304.32 on Tuesday. The firm’s fifty day simple moving average is $291.06 and its two-hundred day simple moving average is $273.46. Quanta Services, Inc. has a 52-week low of $163.93 and a 52-week high of $317.91. The company has a market cap of $44.92 billion, a price-to-earnings ratio of 56.15 and a beta of 1.01. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

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

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

About Quanta Services

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.