MCF Advisors LLC Sells 108 Shares of Quanta Services, Inc. (NYSE:PWR)

MCF Advisors LLC lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 32.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 223 shares of the construction company’s stock after selling 108 shares during the quarter. MCF Advisors LLC’s holdings in Quanta Services were worth $48,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Carnegie Capital Asset Management LLC boosted its stake in Quanta Services by 24.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock worth $356,000 after purchasing an additional 325 shares during the period. Gradient Investments LLC boosted its stake in Quanta Services by 669,187.5% in the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after purchasing an additional 53,535 shares during the period. Saxon Interests Inc. bought a new position in Quanta Services in the 4th quarter worth about $1,352,000. 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. Finally, Bourgeon Capital Management LLC bought a new position in Quanta Services in the 4th quarter worth about $4,085,000. Institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the topic of several recent analyst reports. Truist Financial initiated coverage on Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. 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. 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. KeyCorp initiated coverage on Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Finally, Citigroup raised their price target on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $243.23.

Insiders Place Their Bets

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred on 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 approximately $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the sale, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock valued at $11,270,215 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $245.54 on Tuesday. The stock has a market cap of $35.94 billion, a price-to-earnings ratio of 49.01 and a beta of 1.11. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. The stock’s 50-day moving average is $243.37 and its 200 day moving average is $209.86.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The business 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%. The business’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders 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 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is currently 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.