Quanta Services, Inc. (NYSE:PWR) Shares Sold by Citizens Business Bank

Citizens Business Bank lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 29.9% during the fourth quarter, HoldingsChannel reports. The fund owned 35,147 shares of the construction company’s stock after selling 14,991 shares during the period. Quanta Services comprises approximately 1.7% of Citizens Business Bank’s investment portfolio, making the stock its 12th biggest holding. Citizens Business Bank’s holdings in Quanta Services were worth $7,585,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. AE Wealth Management LLC lifted its position in shares of Quanta Services by 22.0% during the 3rd quarter. AE Wealth Management LLC now owns 1,593 shares of the construction company’s stock valued at $298,000 after acquiring an additional 287 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Quanta Services by 9.8% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,150 shares of the construction company’s stock valued at $5,453,000 after purchasing an additional 2,600 shares during the last quarter. Aquila Investment Management LLC increased its position in shares of Quanta Services by 25.0% in the third quarter. Aquila Investment Management LLC now owns 5,000 shares of the construction company’s stock valued at $935,000 after buying an additional 1,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Quanta Services by 86.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 30,646 shares of the construction company’s stock worth $5,733,000 after buying an additional 14,241 shares during the last quarter. Finally, Xponance Inc. boosted its position in shares of Quanta Services by 1.7% in the 3rd quarter. Xponance Inc. now owns 21,699 shares of the construction company’s stock worth $4,059,000 after buying an additional 366 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. KeyCorp started coverage on Quanta Services in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Truist Financial began coverage on Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. Citigroup upped their target price on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Finally, Stifel Nicolaus lifted their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $247.67.

Insider Buying and Selling at Quanta Services

In other news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Wayne sold 8,842 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $242.27, for a total value of $2,142,151.34. Following the completion of the sale, the executive vice president now owns 44,129 shares of the company’s stock, valued at approximately $10,691,132.83. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock valued at $11,270,215 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Trading Down 1.4 %

NYSE:PWR traded down $3.80 during trading hours on Tuesday, reaching $258.54. 1,066,476 shares of the company were exchanged, compared to its average volume of 925,198. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $265.82. The stock has a 50 day simple moving average of $247.93 and a 200 day simple moving average of $212.69. The firm has a market cap of $37.85 billion, a price-to-earnings ratio of 52.36 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.54 earnings per share. As a group, analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a $0.09 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.14%. Quanta Services’s payout ratio is 7.19%.

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.