Quanta Services, Inc. (NYSE:PWR) Shares Sold by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 8.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,683 shares of the construction company’s stock after selling 603 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Quanta Services were worth $1,736,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wedmont Private Capital boosted its position in Quanta Services by 1.0% during the first quarter. Wedmont Private Capital now owns 4,674 shares of the construction company’s stock worth $1,198,000 after acquiring an additional 47 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its position in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after acquiring an additional 52 shares during the last quarter. Checchi Capital Advisers LLC boosted its position in Quanta Services by 4.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock worth $295,000 after acquiring an additional 60 shares during the last quarter. Central Bank & Trust Co. boosted its position in Quanta Services by 2.1% during the fourth quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock worth $700,000 after acquiring an additional 66 shares during the last quarter. Finally, Czech National Bank raised its stake in Quanta Services by 0.3% during the fourth quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock worth $5,491,000 after purchasing an additional 67 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Quanta Services Price Performance

Shares of PWR opened at $274.00 on Friday. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $286.87. The firm’s 50 day moving average price is $266.75 and its 200 day moving average price is $238.39. The company has a market cap of $40.11 billion, a P/E ratio of 53.10 and a beta of 1.05. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, May 2nd. The construction company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.09 by $0.14. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company had revenue of $5.03 billion during the quarter, compared to analysts’ expectations of $4.96 billion. On average, research analysts forecast that Quanta Services, Inc. will post 7.69 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date is Monday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of analyst reports. Evercore ISI lifted their target price on shares of Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 7th. B. Riley boosted their price target on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Truist Financial reissued a “buy” rating and issued a $305.00 price target (up from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Argus boosted their price target on shares of Quanta Services from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Citigroup boosted their price target on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $268.85.

Quanta Services 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.