Goldman Sachs Group Inc. Sells 706 Shares of Quanta Services, Inc. (NYSE:PWR)

Goldman Sachs Group Inc. decreased its stake in Quanta Services, Inc. (NYSE:PWRFree Report) by 0.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 881,503 shares of the construction company’s stock after selling 706 shares during the period. Goldman Sachs Group Inc. owned about 0.61% of Quanta Services worth $190,229,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. boosted its stake in shares of Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after purchasing an additional 52 shares in the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Quanta Services by 4.6% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock valued at $295,000 after purchasing an additional 60 shares in the last quarter. Central Bank & Trust Co. boosted its stake in shares of Quanta Services by 2.1% in the 4th quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock valued at $700,000 after purchasing an additional 66 shares in the last quarter. Czech National Bank boosted its stake in shares of Quanta Services by 0.3% in the 4th quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock valued at $5,491,000 after purchasing an additional 67 shares in the last quarter. Finally, Evergreen Wealth Solutions LLC boosted its stake in shares of Quanta Services by 2.9% in the 4th quarter. Evergreen Wealth Solutions LLC now owns 2,340 shares of the construction company’s stock valued at $505,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Evercore ISI upped their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, May 7th. DA Davidson increased their price target on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. B. Riley increased their price target on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Citigroup increased their price target 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. Finally, Robert W. Baird increased their price target on shares of Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $268.85.

Get Our Latest Stock Report on PWR

Quanta Services Stock Up 0.8 %

Shares of Quanta Services stock opened at $269.32 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The company has a 50-day moving average of $263.13 and a 200 day moving average of $231.19. The firm has a market cap of $39.43 billion, a price-to-earnings ratio of 52.19 and a beta of 1.05. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $286.87.

Quanta Services (NYSE:PWRGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.14. The company had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.96 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, July 1st will be paid a $0.09 dividend. The ex-dividend date is Monday, July 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.13%. Quanta Services’s payout ratio is 6.98%.

Insider Buying and Selling

In related news, EVP Donald Wayne sold 595 shares of the stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

Quanta Services Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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