Avalon Trust Co Reduces Stock Position in Quanta Services, Inc. (NYSE:PWR)

Avalon Trust Co trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,894 shares of the construction company’s stock after selling 780 shares during the period. Quanta Services comprises about 1.9% of Avalon Trust Co’s investment portfolio, making the stock its 18th largest position. Avalon Trust Co owned about 0.06% of Quanta Services worth $20,262,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. raised its stake in shares of Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares during the period. Central Bank & Trust Co. boosted its holdings in Quanta Services by 2.1% in the 4th 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 period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Quanta Services by 0.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock valued at $2,340,000 after purchasing an additional 67 shares during the period. Czech National Bank lifted its position in shares of 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 in the last quarter. Finally, Gray Wealth Management Inc. boosted its stake in shares of Quanta Services by 6.2% in the third quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company’s stock valued at $218,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock worth $11,270,215 in the last three months. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on PWR shares. Evercore ISI began coverage on shares of Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective on the stock. Stifel Nicolaus lifted 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. The Goldman Sachs Group raised their price target on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. B. Riley upped their price target on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a report on Friday. Finally, TD Cowen raised their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $255.85.

Quanta Services Stock Performance

NYSE:PWR traded up $1.33 during midday trading on Friday, reaching $256.33. 970,817 shares of the company traded hands, compared to its average volume of 893,668. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.44. The company has a fifty day moving average price of $250.69 and a 200 day moving average price of $214.43. The firm has a market capitalization of $37.52 billion, a price-to-earnings ratio of 49.68 and a beta of 1.10.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.54 earnings per share. On average, analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is presently 6.98%.

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.