Fluent Financial LLC Trims Holdings in Quanta Services, Inc. (NYSE:PWR)

Fluent Financial LLC trimmed its stake in Quanta Services, Inc. (NYSE:PWRFree Report) by 65.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,860 shares of the construction company’s stock after selling 5,373 shares during the period. Fluent Financial LLC’s holdings in Quanta Services were worth $617,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PWR. Panagora Asset Management Inc. increased its holdings in Quanta Services by 79.1% during the 1st quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company’s stock worth $1,509,000 after purchasing an additional 5,063 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Quanta Services by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,067 shares of the construction company’s stock valued at $2,509,000 after buying an additional 1,181 shares during the period. Great West Life Assurance Co. Can increased its holdings in Quanta Services by 2.6% during the first quarter. Great West Life Assurance Co. Can now owns 26,648 shares of the construction company’s stock valued at $3,655,000 after buying an additional 668 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Quanta Services by 8.3% during the 1st quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company’s stock worth $652,000 after purchasing an additional 379 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Quanta Services by 21.7% during the 1st quarter. Blair William & Co. IL now owns 16,156 shares of the construction company’s stock worth $2,126,000 after purchasing an additional 2,884 shares during the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 595 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of the sale, the executive vice president now directly 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 link. In other Quanta Services 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 transaction of $142,567.95. Following the transaction, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at $10,052,597.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold a total of 46,024 shares of company stock valued at $10,981,819 in the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PWR shares. Evercore ISI started coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective on the stock. Truist Financial began coverage on Quanta Services in a report on Thursday. They set a “buy” rating and a $301.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, Citigroup raised their target price on Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.54.

Check Out Our Latest Stock Report on PWR

Quanta Services Stock Performance

Shares of NYSE:PWR traded up $0.39 during trading on Friday, hitting $242.75. 1,005,889 shares of the stock traded hands, compared to its average volume of 980,996. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The company has a market cap of $35.38 billion, a price-to-earnings ratio of 48.45 and a beta of 1.10. The company has a fifty day moving average price of $216.25 and a two-hundred day moving average price of $199.15. Quanta Services, Inc. has a 52-week low of $152.00 and a 52-week high of $245.43.

Quanta Services (NYSE:PWRGet Free Report) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business 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 company posted $1.54 EPS. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. As a group, equities analysts predict that Quanta Services, Inc. will post 7.61 EPS for the current year.

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.

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

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