Cutter & CO Brokerage Inc. Trims Stock Position in Quanta Services, Inc. (NYSE:PWR)

Cutter & CO Brokerage Inc. lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,480 shares of the construction company’s stock after selling 99 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Quanta Services were worth $319,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Grove Bank & Trust lifted its position in shares of Quanta Services by 75.6% during the 3rd 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 last quarter. Geneos Wealth Management Inc. lifted its position in Quanta Services by 1,730.0% in the third quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock valued at $34,000 after acquiring an additional 173 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its position in Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Quanta Services in the third quarter valued at about $36,000. Finally, Valley National Advisers Inc. purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $41,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In other news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the sale, 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 is available through the SEC website. In related news, Director Margaret B. Shannon sold 8,515 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the transaction, the director now owns 34,063 shares of the company’s stock, valued at $8,172,394.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were 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 disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock valued at $11,270,215 over the last three months. 1.10% of the stock is owned by corporate insiders.

Quanta Services Stock Performance

Shares of NYSE:PWR traded up $1.56 on Wednesday, hitting $253.51. The company’s stock had a trading volume of 628,518 shares, compared to its average volume of 919,202. The stock’s 50-day moving average is $243.37 and its two-hundred day moving average is $209.86. The company has a market capitalization of $37.11 billion, a price-to-earnings ratio of 50.29 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 12 month low of $153.74 and a 12 month high of $265.82.

Quanta Services (NYSE:PWR) last posted 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. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company 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 business earned $1.54 EPS. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. On average, equities research analysts forecast that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is 7.19%.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. Stifel Nicolaus boosted their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Citigroup boosted their price target on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group upped 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. Finally, TD Cowen upped their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $243.23.

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.