Quanta Services, Inc. (NYSE:PWR) Stake Reduced by Ardevora Asset Management LLP

Ardevora Asset Management LLP lowered its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,873 shares of the construction company's stock after selling 4,440 shares during the quarter. Quanta Services makes up approximately 1.1% of Ardevora Asset Management LLP's portfolio, making the stock its 26th biggest position. Ardevora Asset Management LLP's holdings in Quanta Services were worth $11,842,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. Carnegie Capital Asset Management LLC raised its stake in shares of Quanta Services by 24.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company's stock worth $356,000 after purchasing an additional 325 shares during the last quarter. Gradient Investments LLC raised its stake in shares of Quanta Services by 669,187.5% during the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company's stock worth $11,555,000 after purchasing an additional 53,535 shares during the last quarter. Saxon Interests Inc. purchased a new stake in shares of Quanta Services during the fourth quarter worth approximately $1,352,000. Nordea Investment Management AB raised its stake in shares of Quanta Services by 8,297.7% during the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company's stock worth $196,205,000 after purchasing an additional 901,548 shares during the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in shares of Quanta Services during the fourth quarter worth approximately $4,085,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PWR shares. KeyCorp assumed coverage on Quanta Services in a research note on Wednesday, January 10th. They set a "sector weight" rating for the company. Truist Financial assumed coverage on Quanta Services in a report on Thursday, March 14th. They set a "buy" rating and a $301.00 price objective on the stock. Evercore ISI assumed coverage on Quanta Services in a report on Tuesday, February 13th. They set an "outperform" rating and a $237.00 price objective on the stock. Citigroup upped their price objective on Quanta Services from $234.00 to $237.00 and gave the stock a "buy" rating in a report on Friday, January 26th. Finally, Stifel Nicolaus upped their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $239.54.

Quanta Services Price Performance

Quanta Services stock traded down $2.42 during trading hours on Friday, hitting $243.26. The stock had a trading volume of 1,134,686 shares, compared to its average volume of 770,937. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The stock has a market capitalization of $35.61 billion, a price-to-earnings ratio of 48.55 and a beta of 1.11. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. The stock's fifty day moving average is $242.69 and its two-hundred day moving average is $209.31.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.21. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The business's revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.54 earnings per share. As a group, analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Monday, April 8th. Quanta Services's payout ratio is currently 7.19%.

Insider Activity at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the sale, the executive vice president now owns 263,725 shares of the company's stock, valued at $62,476,452.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Wayne sold 1,101 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock valued at $11,270,215 over the last quarter. Insiders own 1.20% of the company's stock.

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.