Quanta Services, Inc. (NYSE:PWR) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. decreased its position in Quanta Services, Inc. (NYSE:PWR) by 6.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PWR. Nordea Investment Management AB boosted its stake in Quanta Services by 8,297.7% in the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after purchasing an additional 901,548 shares during the period. Qube Research & Technologies Ltd boosted its stake in Quanta Services by 1,494.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 304,126 shares of the construction company’s stock worth $56,893,000 after purchasing an additional 285,047 shares during the period. Scout Investments Inc. boosted its stake in Quanta Services by 20.3% in the 3rd quarter. Scout Investments Inc. now owns 921,186 shares of the construction company’s stock worth $162,718,000 after purchasing an additional 155,586 shares during the period. Ceredex Value Advisors LLC acquired a new position in Quanta Services in the 4th quarter worth approximately $31,730,000. Finally, Trust Point Inc. acquired a new position in Quanta Services in the 4th quarter worth approximately $28,072,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Buying and Selling

In related news, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the sale, the executive vice president now owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Donald Wayne sold 595 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was 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 owns 41,954 shares in the company, valued at approximately $10,052,597.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Margaret B. Shannon sold 8,515 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $239.92, for a total value of $2,042,918.80. Following the sale, the director now owns 34,063 shares in the company, valued at approximately $8,172,394.96. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock worth $11,270,215 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PWR shares. TD Cowen lifted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their target price on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. DA Davidson lifted their target price on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Citigroup lifted their target price on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday. Finally, Stifel Nicolaus boosted their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $243.23.

Quanta Services Trading Up 0.6 %

Shares of Quanta Services stock traded up $1.56 on Wednesday, hitting $253.51. 628,518 shares of the company’s stock traded hands, compared to its average volume of 919,202. The firm’s 50-day moving average price is $243.37 and its two-hundred day moving average price is $209.86. The stock has a market capitalization of $37.11 billion, a PE ratio of 50.29 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 one year low of $153.74 and a one year high of $265.82.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 EPS. On average, research analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were issued a $0.09 dividend. This represents a $0.36 annualized dividend 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 presently 7.19%.

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.