Amalgamated Bank Sells 2,705 Shares of Quanta Services, Inc. (NYSE:PWR)

Amalgamated Bank trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,697 shares of the construction company’s stock after selling 2,705 shares during the period. Amalgamated Bank’s holdings in Quanta Services were worth $8,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of PWR. Aveo Capital Partners LLC grew its stake in shares of Quanta Services by 11.0% during the 4th quarter. Aveo Capital Partners LLC now owns 1,313 shares of the construction company’s stock worth $283,000 after acquiring an additional 130 shares during the period. LGT Group Foundation bought a new position in Quanta Services during the fourth quarter worth about $513,000. Fortitude Advisory Group L.L.C. purchased a new position in shares of Quanta Services in the fourth quarter worth about $330,000. First Trust Direct Indexing L.P. raised its position in shares of Quanta Services by 17.0% in the fourth quarter. First Trust Direct Indexing L.P. now owns 2,368 shares of the construction company’s stock valued at $511,000 after purchasing an additional 344 shares during the period. Finally, New York Life Investment Management LLC lifted its stake in shares of Quanta Services by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 22,823 shares of the construction company’s stock valued at $4,925,000 after buying an additional 143 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PWR. Stifel Nicolaus boosted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. The Goldman Sachs Group increased their price objective on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Truist Financial began coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. Citigroup increased their price target 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, B. Riley boosted their price objective on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $255.85.

Quanta Services Stock Performance

NYSE PWR opened at $256.33 on Friday. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $265.82. The company has a fifty day moving average of $250.69 and a 200-day moving average of $214.68. The company has a market capitalization of $37.52 billion, a P/E ratio of 49.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.44 and a current ratio of 1.36.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) 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 analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The company’s revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 earnings per share. As a group, equities research analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Insider Activity

In related news, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following 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 SEC, which is available through the SEC website. In related news, EVP Donald Wayne sold 595 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the sale, the executive vice president now directly owns 41,954 shares in the company, valued at approximately $10,052,597.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services 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 completion of 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. In the last 90 days, insiders sold 47,125 shares of company stock valued at $11,270,215. Corporate insiders own 1.10% of the company’s stock.

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.