Stack Financial Management Inc Decreases Holdings in Quanta Services, Inc. (NYSE:PWR)

Stack Financial Management Inc lessened its position in shares of Quanta Services, Inc. (NYSE:PWR) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 191,019 shares of the construction company’s stock after selling 4,121 shares during the quarter. Quanta Services comprises about 4.7% of Stack Financial Management Inc’s investment portfolio, making the stock its 5th largest position. Stack Financial Management Inc’s holdings in Quanta Services were worth $41,222,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Carnegie Capital Asset Management LLC lifted its stake in shares of 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 valued at $356,000 after purchasing an additional 325 shares during the period. Gradient Investments LLC lifted its stake in Quanta Services by 669,187.5% in the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock valued at $11,555,000 after buying an additional 53,535 shares during the period. Saxon Interests Inc. acquired a new position in shares of Quanta Services during the 4th quarter worth about $1,352,000. Nordea Investment Management AB increased its stake in shares of 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 valued at $196,205,000 after acquiring an additional 901,548 shares during the last quarter. Finally, Bourgeon Capital Management LLC acquired a new stake in shares of Quanta Services in the 4th quarter valued at approximately $4,085,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 2.1 %

PWR traded up $5.37 during trading hours on Friday, hitting $260.56. 406,261 shares of the company’s stock were exchanged, compared to its average volume of 913,890. The stock’s 50-day moving average is $245.90 and its two-hundred day moving average is $211.02. The company has a quick ratio of 1.44, a current ratio of 1.47 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 has a market cap of $38.14 billion, a price-to-earnings ratio of 50.94 and a beta of 1.11.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the company earned $1.54 EPS. Quanta Services’s revenue for the quarter was up 31.0% compared to the same quarter last year. Sell-side analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors 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 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is presently 7.19%.

Insider Buying and Selling

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 transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Wayne sold 8,842 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $242.27, for a total transaction of $2,142,151.34. Following the sale, the executive vice president now owns 44,129 shares in the company, valued at approximately $10,691,132.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,125 shares of company stock worth $11,270,215. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PWR shares. DA Davidson lifted their target price on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Citigroup lifted their price objective on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday. Evercore ISI began coverage on Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price for the company. The Goldman Sachs Group lifted their price target on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, KeyCorp began coverage on shares of Quanta Services in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $247.67.

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.