Archer Investment Corp Sells 1,800 Shares of Quanta Services, Inc. (NYSE:PWR)

Archer Investment Corp decreased its position in Quanta Services, Inc. (NYSE:PWR) by 21.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,500 shares of the construction company’s stock after selling 1,800 shares during the period. Archer Investment Corp’s holdings in Quanta Services were worth $1,403,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PWR. ICA Group Wealth Management LLC bought a new position in Quanta Services in the 4th quarter worth about $26,000. Coppell Advisory Solutions Corp. purchased a new position in Quanta Services in the 4th quarter worth about $28,000. Perkins Coie Trust Co purchased a new position in Quanta Services in the 3rd quarter worth about $30,000. Grove Bank & Trust raised its position in Quanta Services by 75.6% in the 3rd 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 last quarter. Finally, Geneos Wealth Management Inc. raised its position in Quanta Services by 1,730.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock worth $34,000 after buying an additional 173 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insiders Place Their Bets

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was 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 in the company, valued at approximately $62,476,452.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Margaret B. Shannon sold 8,515 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the completion of the transaction, the director now directly owns 34,063 shares of the company’s stock, valued at approximately $8,172,394.96. The sale was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now directly 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 quarter. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PWR. Stifel Nicolaus boosted their target price on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. KeyCorp initiated coverage on shares of Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. DA Davidson upped their price target on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Truist Financial initiated coverage on Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. Finally, Citigroup increased their price target on Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a report on Friday, January 26th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $239.54.

Quanta Services Price Performance

Shares of NYSE:PWR traded down $3.57 during trading on Wednesday, reaching $245.12. The stock had a trading volume of 420,682 shares, compared to its average volume of 914,703. The business has a fifty day moving average price of $240.53 and a 200-day moving average price of $207.78. The stock has a market cap of $35.88 billion, a PE ratio of 49.64 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The company 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 company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 earnings per share. On average, equities analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th will be issued 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 0.15%. Quanta Services’s dividend payout ratio (DPR) is 7.19%.

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.