Quanta Services, Inc. (NYSE:PWR) Holdings Trimmed by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its position in shares of Quanta Services, Inc. (NYSE:PWR) by 19.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,317 shares of the construction company’s stock after selling 1,027 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Quanta Services were worth $932,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PWR. Vanguard Group Inc. lifted its holdings in shares of Quanta Services by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after purchasing an additional 191,334 shares during the last quarter. Capital World Investors lifted its holdings in shares of Quanta Services by 11.6% during the fourth quarter. Capital World Investors now owns 6,000,722 shares of the construction company’s stock valued at $1,294,956,000 after purchasing an additional 624,545 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Quanta Services by 384.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 2,438,653 shares of the construction company’s stock valued at $526,261,000 after purchasing an additional 1,935,786 shares during the last quarter. Norges Bank purchased a new stake in shares of Quanta Services during the fourth quarter valued at $335,777,000. Finally, Morgan Stanley lifted its holdings in shares of Quanta Services by 3.3% during the third quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock valued at $288,086,000 after purchasing an additional 49,602 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $273.86 on Friday. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $286.87. The firm has a market cap of $40.09 billion, a price-to-earnings ratio of 53.07 and a beta of 1.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The business’s 50-day simple moving average is $266.36 and its 200-day simple moving average is $237.46.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The firm had revenue of $5.03 billion during the quarter, compared to analyst estimates of $4.96 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. As a group, equities research analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be paid a $0.09 dividend. The ex-dividend date of this dividend is Monday, July 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.13%. Quanta Services’s payout ratio is presently 6.98%.

Wall Street Analysts Forecast Growth

PWR has been the subject of several analyst reports. Stifel Nicolaus upped their target price on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. The Goldman Sachs Group increased their price objective on Quanta Services from $259.00 to $286.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Argus increased their price objective on Quanta Services from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. TD Cowen increased their price objective on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Finally, Evercore ISI increased their price objective on Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $268.85.

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.