Quanta Services, Inc. (NYSE:PWR) Shares Sold by Heartland Bank & Trust Co

Heartland Bank & Trust Co reduced its position in shares of Quanta Services, Inc. (NYSE:PWRFree Report) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,852 shares of the construction company’s stock after selling 193 shares during the period. Heartland Bank & Trust Co’s holdings in Quanta Services were worth $615,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. ICA Group Wealth Management LLC acquired a new stake in Quanta Services in the fourth quarter worth $26,000. Coppell Advisory Solutions Corp. acquired a new stake in Quanta Services in the fourth quarter worth $28,000. Perkins Coie Trust Co acquired a new stake in Quanta Services in the third quarter worth $30,000. Grove Bank & Trust increased its position in Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after buying an additional 68 shares during the period. Finally, VisionPoint Advisory Group LLC acquired a new stake in Quanta Services in the second quarter worth $33,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PWR shares. KeyCorp started coverage on Quanta Services in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. DA Davidson increased their target price on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. TD Cowen increased their price target on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Evercore ISI started coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target for the company. Finally, The Goldman Sachs Group increased their price target on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $239.54.

Get Our Latest Analysis on Quanta Services

Quanta Services Price Performance

PWR stock traded up $4.46 during trading hours on Wednesday, hitting $260.56. 108,155 shares of the stock traded hands, compared to its average volume of 934,544. The stock has a 50-day simple moving average of $228.97 and a 200 day simple moving average of $203.10. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $262.01. The company has a market cap of $37.98 billion, a P/E ratio of 51.12 and a beta of 1.11. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWRGet Free Report) 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 16.46% and a net margin of 3.57%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the business posted $1.54 earnings per share. The company’s quarterly revenue was up 31.0% on a year-over-year basis. Equities analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.14%. Quanta Services’s dividend payout ratio is currently 7.19%.

Insider Activity at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction on Wednesday, March 27th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Wayne sold 1,101 shares of the 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 of the company’s stock, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock worth $11,270,215 in the last quarter. 1.30% of the stock is owned by company insiders.

About Quanta Services

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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