Quanta Services, Inc. (NYSE:PWR) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 10.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,750 shares of the construction company’s stock after selling 200 shares during the quarter. Carnegie Investment Counsel’s holdings in Quanta Services were worth $522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. EntryPoint Capital LLC acquired a new position in Quanta Services in the 1st quarter worth about $25,000. Private Ocean LLC acquired a new position in Quanta Services in the 1st quarter worth about $26,000. Salomon & Ludwin LLC acquired a new position in Quanta Services in the 1st quarter worth about $26,000. Cambridge Trust Co. acquired a new position in Quanta Services in the 1st quarter worth about $26,000. Finally, Valley Wealth Managers Inc. acquired a new position in Quanta Services in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

PWR stock opened at $310.98 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The business has a 50 day simple moving average of $277.20 and a 200-day simple moving average of $267.72. The firm has a market capitalization of $45.52 billion, a PE ratio of 60.27 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $313.56.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.47 earnings per share. Equities research analysts anticipate that Quanta Services, Inc. will post 7.81 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services’s payout ratio is 6.98%.

Insider Buying and Selling

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the transaction, the chief operating officer now owns 29,002 shares in the company, valued at $7,541,390.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PWR. Robert W. Baird upped their price target on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Truist Financial upped their price target on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Stifel Nicolaus boosted 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. TD Cowen boosted their price objective on Quanta Services from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, B. Riley boosted their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $299.93.

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.