Prudent Man Advisors LLC Has $826,000 Stock Position in Quanta Services, Inc. (NYSE:PWR)

Prudent Man Advisors LLC lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 30.4% during the third quarter, Holdings Channel reports. The fund owned 2,770 shares of the construction company’s stock after selling 1,208 shares during the quarter. Prudent Man Advisors LLC’s holdings in Quanta Services were worth $826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors grew its holdings in shares of Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after buying an additional 643,011 shares in the last quarter. Electron Capital Partners LLC boosted its holdings in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after purchasing an additional 2,092,519 shares during the period. Massachusetts Financial Services Co. MA grew its position in Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after purchasing an additional 186,306 shares in the last quarter. Swedbank AB increased its stake in Quanta Services by 4.6% in the 3rd quarter. Swedbank AB now owns 960,081 shares of the construction company’s stock valued at $286,248,000 after buying an additional 42,579 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in Quanta Services by 3.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 517,038 shares of the construction company’s stock worth $155,196,000 after buying an additional 14,865 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Wolfe Research started coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target on the stock. Northland Securities reaffirmed an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. JPMorgan Chase & Co. started coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. TD Cowen lifted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Truist Financial increased their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $314.27.

Insider Activity at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on 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 directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 68.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by insiders.

Quanta Services Price Performance

NYSE:PWR opened at $323.33 on Monday. The company has a fifty day moving average price of $301.80 and a 200 day moving average price of $277.83. Quanta Services, Inc. has a one year low of $180.97 and a one year 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 stock has a market cap of $47.73 billion, a P/E ratio of 59.65 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 anticipate that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued 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 payout ratio is 6.64%.

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.