Archer Investment Corp Cuts Stock Position in Quanta Services, Inc. (NYSE:PWR)

Archer Investment Corp decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 21.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,500 shares of the construction company’s stock after selling 1,800 shares during the quarter. Archer Investment Corp’s holdings in Quanta Services were worth $1,403,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Quantum Private Wealth LLC purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $299,000. Avior Wealth Management LLC lifted its position in Quanta Services by 41.8% in the fourth quarter. Avior Wealth Management LLC now owns 1,380 shares of the construction company’s stock valued at $298,000 after buying an additional 407 shares during the last quarter. Wealth Alliance lifted its position in Quanta Services by 3.6% in the fourth quarter. Wealth Alliance now owns 2,264 shares of the construction company’s stock valued at $489,000 after buying an additional 78 shares during the last quarter. Riverstone Advisors LLC acquired a new position in Quanta Services in the fourth quarter valued at about $221,000. Finally, Flputnam Investment Management Co. acquired a new position in Quanta Services in the fourth quarter valued at about $474,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR traded down $3.57 during mid-day trading on Wednesday, reaching $245.12. 420,682 shares of the company’s stock were exchanged, compared to its average volume of 914,703. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The stock has a market capitalization of $35.88 billion, a PE ratio of 49.64 and a beta of 1.11. The business’s fifty day simple moving average is $240.53 and its 200-day simple moving average is $207.78. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $265.82.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the company earned $1.54 earnings per share. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. On average, equities research analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date is Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is currently 7.19%.

Analyst Ratings Changes

A number of research analysts have commented on PWR shares. DA Davidson upped their target price on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. KeyCorp initiated coverage on shares of Quanta Services in a research report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Evercore ISI initiated coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target on the stock. Stifel Nicolaus increased their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, Truist Financial initiated coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $239.54.

Insider Buying and Selling at Quanta Services

In other news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Margaret B. Shannon sold 8,515 shares of Quanta Services stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the completion of the sale, the director now owns 34,063 shares in the company, valued at approximately $8,172,394.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,125 shares of company stock valued at $11,270,215. 1.30% of the stock is owned by company insiders.

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.