Federated Hermes Inc. Has $135.42 Million Position in Quanta Services, Inc. (NYSE:PWR)

Federated Hermes Inc. lowered its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 627,526 shares of the construction company’s stock after selling 22,326 shares during the period. Federated Hermes Inc.’s holdings in Quanta Services were worth $135,420,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. ICA Group Wealth Management LLC acquired a new stake in Quanta Services during the fourth quarter worth $26,000. Coppell Advisory Solutions Corp. bought a new position in shares of Quanta Services during the fourth quarter valued at $28,000. Perkins Coie Trust Co bought a new position in shares of Quanta Services during the third quarter valued at $30,000. Grove Bank & Trust lifted its holdings in shares of Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after acquiring an additional 68 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Quanta Services by 1,730.0% during the third quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock valued at $34,000 after acquiring an additional 173 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. DA Davidson lifted their price target on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. TD Cowen lifted their price target on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. The Goldman Sachs Group lifted their price target on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a report on Monday, February 26th. Truist Financial assumed coverage on Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. Finally, Citigroup lifted their price objective on Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research report on Friday, January 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.54.

Quanta Services Stock Performance

NYSE PWR traded up $4.01 on Thursday, reaching $249.97. The stock had a trading volume of 381,081 shares, compared to its average volume of 914,346. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The firm has a fifty day moving average of $241.27 and a two-hundred day moving average of $208.05. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. The company has a market cap of $36.59 billion, a P/E ratio of 49.10 and a beta of 1.11.

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

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were issued 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 was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is currently 7.19%.

Insider Transactions at Quanta Services

In other 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 transaction of $288,395.94. Following the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.20% of the stock is owned by corporate insiders.

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.