Harvest Fund Management Co. Ltd Sells 2,208 Shares of Quanta Services, Inc. (NYSE:PWR)

Harvest Fund Management Co. Ltd lessened its holdings in Quanta Services, Inc. (NYSE:PWR) by 86.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 336 shares of the construction company’s stock after selling 2,208 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Quanta Services were worth $73,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PWR. Grove Bank & Trust lifted its holdings in shares of Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after buying an additional 68 shares during the period. Hazlett Burt & Watson Inc. lifted its stake in shares of Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares during the last quarter. Valley National Advisers Inc. purchased a new stake in shares of Quanta Services during the 4th quarter worth $41,000. NBC Securities Inc. purchased a new stake in shares of Quanta Services during the 3rd quarter worth $36,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Quanta Services during the 4th quarter worth $43,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 0.8 %

Quanta Services stock opened at $255.19 on Friday. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82. The stock has a 50 day moving average of $245.90 and a two-hundred day moving average of $211.02. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $37.35 billion, a price-to-earnings ratio of 50.94 and a beta of 1.11.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s payout ratio is currently 7.19%.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret B. Shannon sold 8,515 shares of Quanta Services stock in a transaction on Friday, March 1st. The shares were sold at an average price of $239.92, for a total value of $2,042,918.80. Following the completion of the transaction, the director now owns 34,063 shares in the company, valued at approximately $8,172,394.96. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock valued at $11,270,215 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

PWR has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Evercore ISI initiated coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target for the company. DA Davidson increased their price target on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. TD Cowen increased their price target on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, Truist Financial assumed coverage on Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $247.67.

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.