Parkside Financial Bank & Trust Trims Stock Position in Quanta Services, Inc. (NYSE:PWR)

Parkside Financial Bank & Trust cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 979 shares of the construction company’s stock after selling 166 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Quanta Services were worth $211,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PWR. Grove Bank & Trust boosted its stake in shares of Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after purchasing an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Quanta Services by 1,730.0% in the third quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock valued at $34,000 after acquiring an additional 173 shares in the last quarter. Valley National Advisers Inc. acquired a new stake in Quanta Services in the fourth quarter valued at approximately $41,000. Finally, NBC Securities Inc. acquired a new stake in Quanta Services in the third quarter valued at approximately $36,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Price Performance

Shares of PWR stock traded up $0.55 on Wednesday, reaching $252.50. 463,106 shares of the company were exchanged, compared to its average volume of 917,272. The company has a market cap of $36.96 billion, a price-to-earnings ratio of 50.29 and a beta of 1.11. The business has a 50-day moving average price of $243.37 and a 200 day moving average price of $209.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The business 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%. The company’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.54 earnings per share. Equities research analysts forecast 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. Investors of record on Tuesday, April 9th were paid a dividend of $0.09 per share. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.14%. Quanta Services’s dividend payout ratio is presently 7.19%.

Insider Activity at Quanta Services

In other news, EVP Donald Wayne sold 595 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of the sale, the executive vice president now owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’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 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Donald Wayne sold 595 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the transaction, the executive vice president now owns 41,954 shares in the company, valued at $10,052,597.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,125 shares of company stock valued at $11,270,215. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PWR. KeyCorp began coverage on shares of Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. The Goldman Sachs Group boosted their target price on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Truist Financial started coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. Stifel Nicolaus boosted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, DA Davidson boosted their target price on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.23.

About Quanta Services

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.