Massmutual Trust Co. FSB ADV Sells 39 Shares of Quanta Services, Inc. (NYSE:PWR)

Massmutual Trust Co. FSB ADV lessened its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 9.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 376 shares of the construction company’s stock after selling 39 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Quanta Services were worth $112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. EntryPoint Capital LLC bought a new position in Quanta Services during the 1st quarter worth $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services in the first quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in Quanta Services during the first quarter worth about $26,000. Cambridge Trust Co. bought a new position in Quanta Services during the first quarter worth about $26,000. Finally, Valley Wealth Managers Inc. acquired a new stake in Quanta Services in the 2nd quarter worth about $33,000. Institutional investors own 90.49% of the company’s stock.

Insider Activity

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $257.93, for a total value 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 approximately $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 over the last quarter. 1.10% of the stock is owned by company insiders.

Quanta Services Price Performance

PWR stock opened at $305.72 on Friday. The stock has a market cap of $45.04 billion, a price-to-earnings ratio of 59.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The company has a 50 day simple moving average of $270.34 and a 200 day simple moving average of $265.46. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $306.50.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the business earned $1.47 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date is Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Analyst Ratings Changes

Several research analysts have recently commented on PWR shares. Robert W. Baird raised their target price on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Wolfe Research started coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. TD Cowen upped their target price on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Citigroup raised their price target on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday. Finally, B. Riley upped their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $290.23.

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.