Quanta Services, Inc. (NYSE:PWR) Position Decreased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 86.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 336 shares of the construction company’s stock after selling 2,208 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Quanta Services were worth $73,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Hazlett Burt & Watson Inc. boosted its holdings in shares of Quanta Services by 47.3% in the fourth 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 period. Central Bank & Trust Co. boosted its holdings in shares of Quanta Services by 2.1% in the fourth quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock worth $700,000 after buying an additional 66 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Quanta Services by 0.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock worth $2,340,000 after buying an additional 67 shares during the period. Czech National Bank boosted its holdings in shares of Quanta Services by 0.3% in the fourth quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock worth $5,491,000 after buying an additional 67 shares during the period. Finally, Gray Wealth Management Inc. boosted its holdings in shares of Quanta Services by 6.2% in the third quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company’s stock worth $218,000 after buying an additional 68 shares during the period. Institutional investors own 90.49% of the company’s stock.

Insider Activity

In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of 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 document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders 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 owned by insiders.

Quanta Services Stock Performance

Quanta Services stock opened at $255.19 on Friday. The stock has a 50-day simple moving average of $245.90 and a 200 day simple moving average of $211.02. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $265.82. The stock has a market capitalization of $37.35 billion, a price-to-earnings ratio of 50.94 and a beta of 1.11.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.54 EPS. On average, research analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal 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 paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

Wall Street Analyst Weigh In

Several research firms recently commented on PWR. KeyCorp began coverage on shares of Quanta Services in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Truist Financial started coverage on shares of Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target for the company. Citigroup raised 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. Stifel Nicolaus raised their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Evercore ISI started coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $247.67.

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.