Quanta Services, Inc. (NYSE:PWR) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC cut its position in shares of Quanta Services, Inc. (NYSE:PWR) by 8.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,527 shares of the construction company’s stock after selling 619 shares during the quarter. Metis Global Partners LLC’s holdings in Quanta Services were worth $1,409,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust raised its holdings in Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after purchasing an additional 68 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after acquiring an additional 52 shares during the last quarter. Valley National Advisers Inc. acquired a new position in shares of Quanta Services in the fourth quarter worth $41,000. NBC Securities Inc. acquired a new position in shares of Quanta Services in the third quarter worth $36,000. Finally, Planned Solutions Inc. acquired a new position in shares of Quanta Services in the fourth quarter worth $43,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Price Performance

PWR stock opened at $264.86 on Thursday. The stock has a 50-day moving average price of $252.43 and a two-hundred day moving average price of $216.74. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $271.96. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. The company has a market cap of $38.77 billion, a PE ratio of 51.33 and a beta of 1.10.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results 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 16.25% and a net margin of 3.57%. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the business earned $1.54 earnings per share. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. As a group, research analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were given a $0.09 dividend. 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 payout ratio is 6.98%.

Insider Transactions at Quanta Services

In other news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction dated 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 sale, the director now owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Donald Wayne sold 595 shares of the business’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 transaction, the executive vice president now owns 41,954 shares in the company, valued at $10,052,597.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction dated 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 owns 7,486 shares in the company, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock valued at $11,270,215 over the last quarter. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PWR. Citigroup boosted their price target on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. TD Cowen boosted their price target on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Evercore ISI boosted their price target on Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday. B. Riley lifted their price objective on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, KeyCorp began coverage on Quanta Services in a research report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.00.

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.