Cozad Asset Management Inc. Sells 520 Shares of Quanta Services, Inc. (NYSE:PWR)

Cozad Asset Management Inc. lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 3.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,205 shares of the construction company’s stock after selling 520 shares during the period. Cozad Asset Management Inc.’s holdings in Quanta Services were worth $4,118,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its holdings in shares of Quanta Services by 1.2% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 12,574 shares of the construction company’s stock valued at $3,195,000 after purchasing an additional 145 shares during the last quarter. Northstar Advisory Group LLC bought a new stake in shares of Quanta Services during the second quarter worth $324,000. Adell Harriman & Carpenter Inc. increased its holdings in shares of Quanta Services by 1.4% during the second quarter. Adell Harriman & Carpenter Inc. now owns 119,787 shares of the construction company’s stock worth $30,437,000 after buying an additional 1,634 shares in the last quarter. Princeton Capital Management LLC lifted its stake in shares of Quanta Services by 1.6% in the 2nd quarter. Princeton Capital Management LLC now owns 24,171 shares of the construction company’s stock valued at $6,142,000 after acquiring an additional 392 shares during the last quarter. Finally, TIAA Trust National Association acquired a new stake in shares of Quanta Services during the 2nd quarter valued at $10,221,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insiders Place Their Bets

In related news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,357 shares of company stock worth $53,115,572. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE PWR opened at $257.59 on Wednesday. The company has a market capitalization of $37.95 billion, a PE ratio of 49.92 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $286.87. The firm has a fifty day simple moving average of $259.98 and a 200 day simple moving average of $258.66.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the company posted $1.47 EPS. On average, sell-side analysts forecast that Quanta Services, Inc. will post 7.78 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PWR shares. Evercore ISI upped their target price on Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, May 7th. Jefferies Financial Group assumed coverage on Quanta Services in a research note on Wednesday. They issued a “hold” rating and a $256.00 price objective for the company. Robert W. Baird lifted their target price on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Argus upped their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Truist Financial reiterated a “buy” rating and set a $319.00 price target (up previously from $305.00) on shares of Quanta Services in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $284.50.

About Quanta Services

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.