Stack Financial Management Inc Lowers Holdings in Quanta Services, Inc. (NYSE:PWR)

Stack Financial Management Inc reduced its position in Quanta Services, Inc. (NYSE:PWR) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 191,019 shares of the construction company’s stock after selling 4,121 shares during the period. Quanta Services makes up about 4.7% of Stack Financial Management Inc’s investment portfolio, making the stock its 5th biggest position. Stack Financial Management Inc owned approximately 0.13% of Quanta Services worth $41,222,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Hazlett Burt & Watson Inc. increased 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 purchasing an additional 52 shares during the last quarter. Central Bank & Trust Co. increased its stake in 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 purchasing an additional 66 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Quanta Services by 0.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock valued at $2,340,000 after buying an additional 67 shares in the last quarter. 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 valued at $5,491,000 after purchasing an additional 67 shares during the period. Finally, Gray Wealth Management Inc. grew its position in shares of Quanta Services by 6.2% during the 3rd 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 in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

Quanta Services stock traded up $5.37 during trading hours on Friday, hitting $260.56. The stock had a trading volume of 406,261 shares, compared to its average volume of 913,890. The stock has a market capitalization of $38.14 billion, a price-to-earnings ratio of 50.94 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. The stock’s fifty day moving average is $245.90 and its two-hundred day moving average is $211.02.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the firm posted $1.54 EPS. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. As a group, analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

Insider Transactions at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the sale, the executive vice president now directly 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 over the last three months. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PWR has been the topic of several analyst reports. Evercore ISI initiated coverage on shares of Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target on the stock. Citigroup raised their price target on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group lifted their price target on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Stifel Nicolaus increased their price target on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, KeyCorp began coverage on Quanta Services in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $247.67.

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.