Cozad Asset Management Inc. Sells 920 Shares of Quanta Services, Inc. (NYSE:PWR)

Cozad Asset Management Inc. reduced its stake in Quanta Services, Inc. (NYSE:PWR) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,595 shares of the construction company’s stock after selling 920 shares during the period. Cozad Asset Management Inc.’s holdings in Quanta Services were worth $3,797,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PWR. Grove Bank & Trust raised its stake in Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after buying an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in 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 purchasing an additional 52 shares during the period. NBC Securities Inc. purchased a new stake in Quanta Services in the third quarter worth about $36,000. Valley National Advisers Inc. purchased a new stake in Quanta Services in the fourth quarter worth about $41,000. Finally, Planned Solutions Inc. purchased a new stake in Quanta Services in the fourth quarter worth about $43,000. 90.49% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of 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 filing with the SEC, which is available through the SEC website. In related news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the sale, the director now owns 7,486 shares of the company’s stock, 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 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

PWR traded down $3.81 during trading on Tuesday, hitting $258.53. 383,205 shares of the company traded hands, compared to its average volume of 916,597. The company has a market cap of $37.84 billion, a PE ratio of 52.36 and a beta of 1.11. The stock’s 50-day simple moving average is $247.93 and its two-hundred day simple moving average is $212.69. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82. 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 (NYSE:PWR) last posted its earnings results 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. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. Quanta Services’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period last year, the company posted $1.54 earnings per share. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed 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 was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s payout ratio is currently 7.19%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup increased their price target on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Truist Financial assumed coverage on shares of Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. DA Davidson increased their price target on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. The Goldman Sachs Group increased their price target on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, KeyCorp assumed coverage on shares of Quanta Services in a report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price 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.