Kestra Private Wealth Services LLC Sells 76 Shares of Quanta Services, Inc. (NYSE:PWR)

Kestra Private Wealth Services LLC decreased its position in Quanta Services, Inc. (NYSE:PWR) by 3.4% during the 4th quarter, HoldingsChannel reports. The fund owned 2,181 shares of the construction company’s stock after selling 76 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Quanta Services were worth $471,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PWR. FMR LLC lifted its position in Quanta Services by 1.1% during the 3rd quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock worth $791,171,000 after buying an additional 44,141 shares in the last quarter. Morgan Stanley raised its stake in shares of Quanta Services by 3.3% during the 3rd quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock worth $288,086,000 after purchasing an additional 49,602 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Quanta Services by 3.9% in the 3rd quarter. Northern Trust Corp now owns 1,452,347 shares of the construction company’s stock valued at $271,691,000 after buying an additional 54,268 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Quanta Services by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,412,589 shares of the construction company’s stock valued at $264,253,000 after buying an additional 40,233 shares in the last quarter. Finally, UBS Group AG increased its holdings in Quanta Services by 0.5% during the third quarter. UBS Group AG now owns 947,689 shares of the construction company’s stock worth $177,284,000 after buying an additional 4,800 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Donald Wayne sold 595 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of the transaction, the executive vice president now directly owns 41,954 shares in the company, valued at approximately $10,052,597.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Quanta Services news, EVP Donald Wayne sold 595 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the sale, the executive vice president now owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Margaret B. Shannon sold 8,515 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $239.92, for a total value of $2,042,918.80. Following the transaction, the director now directly owns 34,063 shares of the company’s stock, valued at approximately $8,172,394.96. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $269.44 on Tuesday. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $270.42. The company’s 50 day moving average price is $251.36 and its two-hundred day moving average price is $215.69. The firm has a market cap of $39.44 billion, a PE ratio of 52.22 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 16.25% and a net margin of 3.57%. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.54 earnings per share. Equities research analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.13%. Quanta Services’s dividend payout ratio is 6.98%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PWR shares. KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. DA Davidson upped their price objective on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group raised their price target on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a report on Monday, February 26th. TD Cowen upped their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Finally, Citigroup increased their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $256.15.

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.