Quanta Services, Inc. (NYSE:PWR) Shares Sold by Hills Bank & Trust Co

Hills Bank & Trust Co reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 19.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 495 shares of the construction company’s stock after selling 121 shares during the period. Hills Bank & Trust Co’s holdings in Quanta Services were worth $148,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC acquired a new position in Quanta Services in the 1st quarter valued at $25,000. Salomon & Ludwin LLC acquired a new stake in shares of Quanta Services in the first quarter valued at about $26,000. Cambridge Trust Co. purchased a new position in shares of Quanta Services in the first quarter worth about $26,000. Valley Wealth Managers Inc. acquired a new position in Quanta Services during the second quarter worth about $33,000. Finally, Quest Partners LLC purchased a new stake in Quanta Services during the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Buying and Selling

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the sale, the insider now directly owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 in the last three months. 1.10% of the stock is owned by corporate insiders.

Quanta Services Price Performance

PWR stock opened at $303.50 on Friday. The business’s fifty day moving average price is $289.79 and its 200 day moving average price is $272.31. Quanta Services, Inc. has a 12-month low of $163.93 and a 12-month high of $317.91. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $44.71 billion, a PE ratio of 57.26 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the prior year, the company earned $2.08 earnings per share. The business’s quarterly revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s payout ratio is currently 6.79%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PWR shares. B. Riley boosted their target price on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. TD Cowen lifted their price target on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Northland Securities reissued an “outperform” rating and issued a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a report on Friday. Wolfe Research began coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price on the stock. Finally, Truist Financial increased their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $314.27.

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.