Peddock Capital Advisors LLC Trims Stake in Quanta Services, Inc. (NYSE:PWR)

Peddock Capital Advisors LLC trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,398 shares of the construction company’s stock after selling 354 shares during the quarter. Quanta Services makes up 1.3% of Peddock Capital Advisors LLC’s portfolio, making the stock its 18th biggest holding. Peddock Capital Advisors LLC’s holdings in Quanta Services were worth $4,186,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Grove Bank & Trust lifted its holdings in Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after purchasing an additional 68 shares in 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. NBC Securities Inc. purchased a new stake in Quanta Services in the 3rd quarter worth approximately $36,000. Valley National Advisers Inc. acquired a new position in Quanta Services in the 4th quarter valued at $41,000. Finally, Planned Solutions Inc. acquired a new position in Quanta Services in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Buying and Selling

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,125 shares of company stock worth $11,270,215. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Down 0.6 %

PWR traded down $1.60 during trading hours on Wednesday, reaching $265.28. 526,235 shares of the stock traded hands, compared to its average volume of 936,863. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $271.96. The company has a market cap of $38.83 billion, a price-to-earnings ratio of 51.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The firm’s fifty day simple moving average is $251.91 and its two-hundred day simple moving average is $216.41.

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

Quanta Services Announces Dividend

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

Analyst Ratings Changes

PWR has been the subject of several recent analyst reports. DA Davidson lifted their price target on Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a report on Tuesday. Evercore ISI boosted their target price on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday. B. Riley increased their price target on shares of Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, TD Cowen increased their target price on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average price target of $262.00.

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.