Quanta Services, Inc. (NYSE:PWR) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 96.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,902 shares of the construction company’s stock after selling 105,630 shares during the period. Calamos Advisors LLC’s holdings in Quanta Services were worth $842,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PWR. ICA Group Wealth Management LLC bought a new stake in Quanta Services during the 4th quarter valued at $26,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Quanta Services during the fourth quarter valued at about $28,000. Grove Bank & Trust lifted its holdings in Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after purchasing an additional 68 shares during the period. Geneos Wealth Management Inc. grew its position in Quanta Services by 1,730.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock valued at $34,000 after buying an additional 173 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. increased its stake in Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after buying an additional 52 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

NYSE PWR opened at $243.26 on Monday. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82. The company has a market cap of $35.61 billion, a PE ratio of 48.55 and a beta of 1.11. The stock’s 50-day moving average price is $242.69 and its two-hundred day moving average price is $209.31.

Quanta Services (NYSE:PWR) last released its 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. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. On average, analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.15%. Quanta Services’s payout ratio is currently 7.19%.

Insider Transactions at Quanta Services

In related news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the transaction, the director now owns 7,486 shares in the company, valued at approximately $1,776,502.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock valued at $11,270,215 over the last quarter. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PWR. Citigroup upped their price target on shares of Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. The Goldman Sachs Group increased their price target on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. TD Cowen boosted their price objective on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Evercore ISI initiated coverage on Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective for the company. Finally, Truist Financial assumed coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $239.54.

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.