Quanta Services, Inc. (NYSE:PWR) Shares Sold by Cedrus LLC

Cedrus LLC decreased its position in Quanta Services, Inc. (NYSE:PWR) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,204 shares of the construction company’s stock after selling 88 shares during the quarter. Cedrus LLC’s holdings in Quanta Services were worth $359,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PWR. Schubert & Co acquired a new stake in shares of Quanta Services during the third quarter worth approximately $238,000. Blue Trust Inc. grew its position in shares of Quanta Services by 46.8% during the third quarter. Blue Trust Inc. now owns 1,235 shares of the construction company’s stock worth $368,000 after buying an additional 394 shares in the last quarter. Meridian Financial Partners LLC acquired a new stake in shares of Quanta Services during the third quarter worth approximately $793,000. Stratos Wealth Advisors LLC grew its position in shares of Quanta Services by 8.5% during the third quarter. Stratos Wealth Advisors LLC now owns 3,645 shares of the construction company’s stock worth $1,087,000 after buying an additional 285 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its position in shares of Quanta Services by 2.7% during the third quarter. Stratos Wealth Partners LTD. now owns 27,720 shares of the construction company’s stock worth $8,265,000 after buying an additional 721 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Northland Securities raised their price target on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Truist Financial raised their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective on the stock. Stifel Nicolaus raised their price objective on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Jefferies Financial Group assumed coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $303.86.

Insider Activity at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock worth $53,115,572 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Price Performance

Shares of NYSE PWR opened at $314.27 on Friday. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $316.28. The firm’s 50-day simple moving average is $281.72 and its 200 day simple moving average is $269.14. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The stock has a market cap of $46.01 billion, a P/E ratio of 60.91 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same period in the previous year, the business earned $1.47 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. Equities analysts expect that Quanta Services, Inc. will post 7.83 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

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.