Insigneo Advisory Services LLC Sells 856 Shares of Quanta Services, Inc. (NYSE:PWR)

Insigneo Advisory Services LLC lowered its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 51.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 814 shares of the construction company's stock after selling 856 shares during the quarter. Insigneo Advisory Services LLC's holdings in Quanta Services were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Allstate Corp bought a new stake in Quanta Services during the fourth quarter worth $1,357,000. Brighton Jones LLC bought a new stake in shares of Quanta Services during the 4th quarter worth $298,000. Farther Finance Advisors LLC boosted its holdings in shares of Quanta Services by 60.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,568 shares of the construction company's stock worth $404,000 after buying an additional 588 shares during the last quarter. Principal Securities Inc. grew its position in Quanta Services by 9.0% during the fourth quarter. Principal Securities Inc. now owns 2,259 shares of the construction company's stock valued at $714,000 after buying an additional 187 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Quanta Services during the fourth quarter worth about $46,364,000. Institutional investors own 90.49% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Truist Financial dropped their target price on shares of Quanta Services from $398.00 to $324.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Daiwa Capital Markets downgraded Quanta Services from an "outperform" rating to a "neutral" rating in a research note on Monday, February 24th. DA Davidson raised their target price on Quanta Services from $295.00 to $305.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. B. Riley boosted their target price on Quanta Services from $300.00 to $355.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Citigroup cut their price target on Quanta Services from $366.00 to $342.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and a consensus price target of $349.65.

Quanta Services Trading Up 0.5%

Shares of Quanta Services stock opened at $360.48 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 1.26. Quanta Services, Inc. has a 1 year low of $227.08 and a 1 year high of $367.00. The firm has a market cap of $53.44 billion, a PE ratio of 58.14, a PEG ratio of 2.81 and a beta of 1.07. The company has a 50 day simple moving average of $324.49 and a two-hundred day simple moving average of $305.40.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, May 1st. The construction company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. The company had revenue of $6.23 billion during the quarter, compared to analyst estimates of $5.88 billion. Quanta Services had a net margin of 3.74% and a return on equity of 18.06%. The firm's quarterly revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 earnings per share. Analysts expect that Quanta Services, Inc. will post 9.34 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a $0.40 annualized dividend and a dividend yield of 0.11%. Quanta Services's dividend payout ratio (DPR) is presently 6.45%.

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.

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