Quanta Services, Inc. (NYSE:PWR) Holdings Lowered by Natixis Advisors LLC

Natixis Advisors LLC cut its position in shares of Quanta Services, Inc. (NYSE:PWR) by 17.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,750 shares of the construction company’s stock after selling 18,743 shares during the quarter. Natixis Advisors LLC owned 0.06% of Quanta Services worth $25,566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services in the first quarter worth approximately $25,000. Cambridge Trust Co. acquired a new stake in shares of Quanta Services during the 1st quarter valued at $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Quanta Services during the 2nd quarter valued at $33,000. Quest Partners LLC acquired a new position in shares of Quanta Services in the second quarter worth $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Quanta Services during the second quarter worth $38,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were 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. The trade was a 68.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PWR shares. Robert W. Baird upped their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial raised their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Northland Securities reissued an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. B. Riley lifted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, TD Cowen upped their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Price Performance

Shares of Quanta Services stock opened at $328.41 on Tuesday. The firm has a fifty day moving average price of $303.37 and a two-hundred day moving average price of $278.35. Quanta Services, Inc. has a fifty-two week low of $180.97 and a fifty-two week high of $335.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The company has a market cap of $48.48 billion, a PE ratio of 60.59 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, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the company posted $2.08 earnings per share. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. Analysts expect that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. Quanta Services’s dividend payout ratio is currently 6.64%.

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.