Smith Graham & Co. Investment Advisors LP Lowers Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Smith Graham & Co. Investment Advisors LP cut its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,013 shares of the construction company’s stock after selling 5,391 shares during the quarter. Quanta Services makes up approximately 1.0% of Smith Graham & Co. Investment Advisors LP’s holdings, making the stock its 23rd biggest holding. Smith Graham & Co. Investment Advisors LP’s holdings in Quanta Services were worth $8,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ICA Group Wealth Management LLC purchased a new position in Quanta Services during the 4th quarter worth $26,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Quanta Services during the fourth quarter valued at $28,000. Perkins Coie Trust Co bought a new stake in shares of Quanta Services in the third quarter valued at about $30,000. Grove Bank & Trust lifted its stake 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 acquiring an additional 68 shares during the period. Finally, VisionPoint Advisory Group LLC purchased a new position in Quanta Services during the 2nd quarter valued at about $33,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Quanta Services stock traded down $2.29 during mid-day trading on Friday, reaching $255.71. 167,208 shares of the company traded hands, compared to its average volume of 919,448. The firm’s fifty day moving average is $237.74 and its two-hundred day moving average is $206.19. The company has a market capitalization of $37.27 billion, a price-to-earnings ratio of 51.13 and a beta of 1.11. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $265.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.21. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm’s revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 EPS. On average, equities research analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th will be issued a $0.09 dividend. The ex-dividend date is Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

Insider Buying and Selling at Quanta Services

In other news, EVP Donald Wayne sold 595 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following the sale, the executive vice president now owns 41,954 shares in the company, valued at $10,052,597.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the transaction, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of recent research reports. Citigroup increased their price objective on shares of Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Evercore ISI initiated coverage on Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target on the stock. TD Cowen upped their price objective on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their target price on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, Stifel Nicolaus increased their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.54.

About Quanta Services

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.