Knights of Columbus Asset Advisors LLC Sells 24,382 Shares of Quanta Services, Inc. (NYSE:PWR)

Knights of Columbus Asset Advisors LLC decreased its position in Quanta Services, Inc. (NYSE:PWR) by 67.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,878 shares of the construction company’s stock after selling 24,382 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Quanta Services were worth $2,563,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PWR. Norges Bank bought a new position in Quanta Services in the fourth quarter worth $180,853,000. Nordea Investment Management AB raised its holdings in Quanta Services by 8,297.7% in the fourth 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 in the last quarter. Royal Bank of Canada raised its holdings in Quanta Services by 52.2% in the first quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock worth $196,405,000 after purchasing an additional 511,508 shares in the last quarter. Deutsche Bank AG raised its holdings in Quanta Services by 113.7% in the first quarter. Deutsche Bank AG now owns 643,054 shares of the construction company’s stock worth $107,159,000 after purchasing an additional 342,100 shares in the last quarter. Finally, CI Private Wealth LLC bought a new position in Quanta Services in the fourth quarter worth $42,168,000. Institutional investors own 90.49% of the company’s stock.

Insiders Place Their Bets

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,125 shares of company stock valued at $11,270,215. Insiders own 1.20% of the company’s stock.

Quanta Services Trading Down 1.0 %

Quanta Services stock opened at $243.26 on Friday. 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. The stock has a market capitalization of $35.61 billion, a PE ratio of 48.55 and a beta of 1.11. The business’s fifty day moving average is $242.69 and its 200 day moving average is $209.05.

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 the consensus estimate of $1.83 by $0.21. The company had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. Quanta Services’s revenue was up 31.0% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were given a $0.09 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.15%. Quanta Services’s payout ratio is 7.19%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Evercore ISI assumed coverage on Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective for the company. Truist Financial assumed coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target for the company. Stifel Nicolaus raised their price target on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. TD Cowen raised their price target on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Finally, DA Davidson raised their price target on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.54.

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.