Quanta Services, Inc. (NYSE:PWR) Shares Sold by M&T Bank Corp

M&T Bank Corp lessened its position in Quanta Services, Inc. (NYSE:PWR) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,069 shares of the construction company’s stock after selling 536 shares during the period. M&T Bank Corp’s holdings in Quanta Services were worth $2,604,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB raised its holdings in Quanta Services by 8,297.7% in the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after acquiring an additional 901,548 shares during the last quarter. Qube Research & Technologies Ltd grew its holdings in Quanta Services by 1,494.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 304,126 shares of the construction company’s stock valued at $56,893,000 after buying an additional 285,047 shares during the period. Scout Investments Inc. increased its stake in shares of Quanta Services by 20.3% during the 3rd quarter. Scout Investments Inc. now owns 921,186 shares of the construction company’s stock valued at $162,718,000 after acquiring an additional 155,586 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Quanta Services in the fourth quarter worth approximately $31,730,000. Finally, Trust Point Inc. purchased a new stake in Quanta Services in the fourth quarter valued at approximately $28,072,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PWR shares. B. Riley increased their price target on shares of Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Evercore ISI boosted their price target on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday. Robert W. Baird raised their price objective on Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. KeyCorp started coverage on Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Finally, The Goldman Sachs Group increased 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. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.00.

Quanta Services Stock Down 0.8 %

Shares of NYSE:PWR opened at $264.86 on Thursday. The company has a 50 day moving average of $252.43 and a two-hundred day moving average of $216.74. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $271.96. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $38.77 billion, a price-to-earnings ratio of 51.33 and a beta of 1.10.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. As a group, analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services 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 directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the transaction, 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 document filed with the SEC, which is available through this hyperlink. Also, EVP Donald Wayne sold 1,101 shares of the company’s 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 owns 40,065 shares in the company, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,125 shares of company stock valued at $11,270,215. Insiders own 1.10% of the company’s stock.

Quanta Services 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.