Yousif Capital Management LLC Has $4.38 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Yousif Capital Management LLC lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 24.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 20,305 shares of the construction company’s stock after selling 6,615 shares during the period. Yousif Capital Management LLC’s holdings in Quanta Services were worth $4,382,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC raised its stake in Quanta Services by 1.1% during the third quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock worth $791,171,000 after acquiring an additional 44,141 shares in the last quarter. Morgan Stanley increased its position in Quanta Services by 3.3% during the 3rd quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock worth $288,086,000 after purchasing an additional 49,602 shares in the last quarter. Northern Trust Corp lifted its stake in Quanta Services by 3.9% in the 3rd quarter. Northern Trust Corp now owns 1,452,347 shares of the construction company’s stock valued at $271,691,000 after purchasing an additional 54,268 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Quanta Services by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,412,589 shares of the construction company’s stock valued at $264,253,000 after buying an additional 40,233 shares in the last quarter. Finally, UBS Group AG grew its stake in shares of Quanta Services by 0.5% during the third quarter. UBS Group AG now owns 947,689 shares of the construction company’s stock worth $177,284,000 after buying an additional 4,800 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PWR has been the topic of several recent research reports. Evercore ISI initiated coverage on Quanta Services in a report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective on the stock. Truist Financial began coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a report on Monday, February 26th. Citigroup boosted 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, April 22nd. Finally, Stifel Nicolaus raised their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $247.67.

Quanta Services Price Performance

Shares of NYSE PWR opened at $261.76 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $38.32 billion, a PE ratio of 52.25 and a beta of 1.11. The firm has a fifty day simple moving average of $245.90 and a 200 day simple moving average of $211.02. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the business earned $1.54 EPS. The firm’s revenue was up 31.0% compared to the same quarter last year. On average, sell-side analysts forecast that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is currently 7.19%.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 in the last quarter. Company insiders own 1.10% of the company’s stock.

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.