SVB Wealth LLC Decreases Stake in Quanta Services, Inc. (NYSE:PWR)

SVB Wealth LLC lowered its position in Quanta Services, Inc. (NYSE:PWR) by 37.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,382 shares of the construction company’s stock after selling 838 shares during the quarter. SVB Wealth LLC’s holdings in Quanta Services were worth $298,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Grove Bank & Trust lifted its stake 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 acquiring an additional 68 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its position in shares of Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after buying an additional 52 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Quanta Services by 1,730.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock worth $34,000 after buying an additional 173 shares during the last quarter. Valley National Advisers Inc. purchased a new stake in shares of Quanta Services during the 4th quarter worth approximately $41,000. Finally, NBC Securities Inc. purchased a new stake in shares of Quanta Services during the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on PWR shares. Truist Financial started coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. The Goldman Sachs Group boosted their price objective 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. Stifel Nicolaus boosted their price objective 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. Citigroup boosted their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday. Finally, TD Cowen upped their price target on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.23.

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now directly 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 SEC, which is accessible through the SEC website. In related news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Donald Wayne sold 1,101 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. 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 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

Quanta Services Stock Up 0.9 %

Shares of Quanta Services stock opened at $245.54 on Tuesday. The company has a market cap of $35.94 billion, a P/E ratio of 49.01 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $265.82. The firm has a fifty day moving average of $243.37 and a two-hundred day moving average of $209.86.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion during 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%. Quanta Services’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 EPS. On average, analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were paid a dividend of $0.09 per share. 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 dividend payout ratio (DPR) is presently 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.