Everence Capital Management Inc. lifted its stake in shares of Quanta Services Inc (NYSE:PWR) by 107.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,002 shares of the construction company’s stock after buying an additional 8,292 shares during the period. Everence Capital Management Inc.’s holdings in Quanta Services were worth $604,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of Quanta Services by 126.1% in the third quarter. JPMorgan Chase & Co. now owns 180,641 shares of the construction company’s stock worth $6,030,000 after acquiring an additional 100,743 shares during the period. Morgan Stanley raised its position in shares of Quanta Services by 40.8% in the third quarter. Morgan Stanley now owns 361,880 shares of the construction company’s stock worth $12,080,000 after acquiring an additional 104,914 shares during the period. Vanguard Group Inc raised its position in shares of Quanta Services by 0.9% in the third quarter. Vanguard Group Inc now owns 15,472,260 shares of the construction company’s stock worth $516,464,000 after acquiring an additional 139,596 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Quanta Services in the fourth quarter worth about $216,000. Finally, Dalton Greiner Hartman Maher & Co. raised its position in shares of Quanta Services by 10.7% in the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 789,560 shares of the construction company’s stock worth $23,766,000 after acquiring an additional 76,530 shares during the period. Institutional investors and hedge funds own 87.20% of the company’s stock.
In related news, insider James Redgie Probst sold 100,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $40.00, for a total transaction of $4,000,000.00. Following the completion of the sale, the insider now owns 47,420 shares of the company’s stock, valued at approximately $1,896,800. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Bernard Fried sold 4,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $36.63, for a total transaction of $146,520.00. Following the sale, the director now directly owns 8,953 shares of the company’s stock, valued at approximately $327,948.39. The disclosure for this sale can be found here. Insiders have sold 105,295 shares of company stock valued at $4,193,257 in the last three months. Corporate insiders own 1.20% of the company’s stock.
A number of research analysts have weighed in on the stock. DA Davidson downgraded shares of Quanta Services from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. ValuEngine upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Citigroup set a $46.00 price objective on shares of Quanta Services and gave the stock a “buy” rating in a research report on Friday, February 22nd. Zacks Investment Research upgraded shares of Quanta Services from a “sell” rating to a “hold” rating and set a $41.00 price objective for the company in a research report on Monday, February 25th. Finally, B. Riley reiterated a “buy” rating and issued a $47.00 price objective (down previously from $56.00) on shares of Quanta Services in a research report on Monday, March 11th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.80.
PWR stock opened at $35.72 on Thursday. The stock has a market cap of $5.03 billion, a PE ratio of 14.12 and a beta of 1.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.00 and a quick ratio of 1.95. Quanta Services Inc has a 52 week low of $27.90 and a 52 week high of $41.00.
Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 2nd. The construction company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.13. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.65 billion. Quanta Services had a net margin of 3.25% and a return on equity of 12.71%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.40 earnings per share. As a group, equities analysts anticipate that Quanta Services Inc will post 3.34 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.45%. Quanta Services’s dividend payout ratio is currently 6.32%.
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Quanta Services Profile
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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