Cozad Asset Management Inc. Trims Stake in Quanta Services, Inc. (NYSE:PWR)

Cozad Asset Management Inc. lowered its stake in Quanta Services, Inc. (NYSE:PWR) by 3.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,705 shares of the construction company’s stock after selling 500 shares during the quarter. Cozad Asset Management Inc.’s holdings in Quanta Services were worth $4,682,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in PWR. EntryPoint Capital LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth $25,000. Cambridge Trust Co. bought a new position in shares of Quanta Services during the first quarter worth about $26,000. Valley Wealth Managers Inc. bought a new position in shares of Quanta Services during the second quarter worth about $33,000. Quest Partners LLC bought a new position in Quanta Services in the second quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in Quanta Services in the second quarter worth about $38,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insiders Place Their Bets

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PWR shares. TD Cowen raised their price objective 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. Wolfe Research began coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. UBS Group lifted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price objective on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Trading Down 1.2 %

Shares of PWR opened at $310.82 on Thursday. The company has a market capitalization of $45.88 billion, a P/E ratio of 57.35 and a beta of 1.01. Quanta Services, Inc. has a 1-year low of $163.93 and a 1-year high of $317.91. The firm’s 50 day simple moving average is $292.81 and its 200 day simple moving average is $274.22. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 earnings per share. Sell-side analysts forecast that Quanta Services, Inc. will post 7.83 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

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.