Sterling Investment Counsel LLC Sells 128 Shares of Quanta Services, Inc. (NYSE:PWR)

Sterling Investment Counsel LLC trimmed its position in shares of Quanta Services, Inc. (NYSE:PWR) by 15.5% in the third quarter, Holdings Channel reports. The fund owned 699 shares of the construction company’s stock after selling 128 shares during the quarter. Sterling Investment Counsel LLC’s holdings in Quanta Services were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Greenleaf Trust increased its holdings in shares of Quanta Services by 1.2% in the third quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock valued at $940,000 after purchasing an additional 38 shares in the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in Quanta Services in the third quarter valued at about $265,000. Segment Wealth Management LLC lifted its position in Quanta Services by 220.9% during the 3rd quarter. Segment Wealth Management LLC now owns 60,842 shares of the construction company’s stock valued at $18,140,000 after purchasing an additional 41,880 shares during the period. Waldron Private Wealth LLC bought a new position in Quanta Services during the third quarter worth about $224,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Quanta Services by 97.9% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 27,700 shares of the construction company’s stock valued at $8,259,000 after acquiring an additional 13,700 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PWR. Citigroup lifted their price objective on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. Stifel Nicolaus increased their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Northland Securities upped their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Wolfe Research initiated coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective for the company. Finally, Truist Financial boosted their price target on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $303.86.

Insider Buying and Selling

In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by company insiders.

Quanta Services Trading Down 0.7 %

Shares of NYSE:PWR traded down $2.05 during trading on Wednesday, reaching $310.92. The stock had a trading volume of 133,698 shares, compared to its average volume of 885,793. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $317.91. The firm’s fifty day moving average is $283.89 and its 200 day moving average is $269.95. The stock has a market cap of $45.81 billion, a price-to-earnings ratio of 59.03 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 earnings per share. As a group, equities analysts forecast that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is presently 6.79%.

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.