Russell Investments Group Ltd. Has $13.55 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Posted by Defense World Staff on May 12th, 2023

Russell Investments Group Ltd. cut its stake in Quanta Services, Inc. (NYSE:PWR – Get Rating) by 5.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,067 shares of the construction company’s stock after selling 5,026 shares during the period. Russell Investments Group Ltd. owned about 0.07% of Quanta Services worth $13,550,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. MinichMacGregor Wealth Management LLC bought a new stake in Quanta Services during the 4th quarter worth approximately $27,000. Your Advocates Ltd. LLP bought a new position in Quanta Services in the 4th quarter valued at $29,000. Raleigh Capital Management Inc. boosted its position in Quanta Services by 243.2% in the 4th quarter. Raleigh Capital Management Inc. now owns 254 shares of the construction company’s stock valued at $36,000 after buying an additional 180 shares during the last quarter. Alta Advisers Ltd bought a new position in Quanta Services in the 3rd quarter valued at $51,000. Finally, Lagoda Investment Management L.P. bought a new position in Quanta Services in the 3rd quarter valued at $68,000. 89.29% of the stock is currently owned by institutional investors.

Quanta Services Stock Up 0.1 %

Shares of PWR opened at $171.59 on Friday. Quanta Services, Inc. has a one year low of $106.33 and a one year high of $172.83. The company has a market cap of $24.91 billion, a P/E ratio of 50.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.63 and a quick ratio of 1.58. The firm has a 50 day simple moving average of $163.99 and a two-hundred day simple moving average of $153.33.

Quanta Services (NYSE:PWR – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The construction company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.48 by $0.06. Quanta Services had a net margin of 2.86% and a return on equity of 15.72%. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.27 billion. Research analysts forecast that Quanta Services, Inc. will post 6.41 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 18th. Shareholders of record on Monday, April 10th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, April 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.19%. Quanta Services’s payout ratio is presently 9.44%.

Insiders Place Their Bets

In other Quanta Services news, EVP Derrick A. Jensen sold 100,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $169.36, for a total transaction of $16,936,000.00. Following the sale, the executive vice president now owns 282,225 shares of the company’s stock, valued at $47,797,626. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Quanta Services news, EVP Derrick A. Jensen sold 100,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $169.36, for a total transaction of $16,936,000.00. Following the sale, the executive vice president now owns 282,225 shares of the company’s stock, valued at $47,797,626. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Donald Wayne sold 23,214 shares of the business’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $163.68, for a total transaction of $3,799,667.52. Following the sale, the executive vice president now directly owns 50,367 shares in the company, valued at approximately $8,244,070.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,646 shares of company stock valued at $23,737,898. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on PWR. StockNews.com began coverage on Quanta Services in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. KeyCorp increased their price target on Quanta Services from $174.00 to $190.00 in a research note on Monday, April 24th. Argus increased their price target on Quanta Services from $168.00 to $189.00 and gave the company a “buy” rating in a research note on Friday, February 24th. Robert W. Baird increased their price target on Quanta Services from $173.00 to $186.00 in a research note on Friday, May 5th. Finally, The Goldman Sachs Group increased their price target on Quanta Services from $150.00 to $171.00 and gave the company a “neutral” rating in a research note on Monday, April 17th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $176.70.

Quanta Services Company Profile

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Quanta Services, Inc engages in the provision of comprehensive infrastructure solutions to the electric power, oil and gas, and communication industries. It operates through the following segments: Electric Power Infrastructure Solutions, Renewable Energy Infrastructure Solutions, and Underground Utility and Infrastructure Solutions.