Quanta Services, Inc. (NYSE:PWR) Shares Sold by Raymond James Financial Services Advisors Inc.

Posted by on May 15th, 2023

Raymond James Financial Services Advisors Inc. decreased its position in Quanta Services, Inc. (NYSE:PWR – Get Rating) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,402 shares of the construction company’s stock after selling 3,060 shares during the quarter. Raymond James Financial Services Advisors Inc. owned about 0.07% of Quanta Services worth $14,027,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Panagora Asset Management Inc. lifted its holdings in shares of Quanta Services by 79.1% during the first quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company’s stock valued at $1,509,000 after purchasing an additional 5,063 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position 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 raised its position 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. raised its position in Quanta Services by 8.3% during the first quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company’s stock valued at $652,000 after buying an additional 379 shares during the period. Finally, Blair William & Co. IL raised its position in Quanta Services by 21.7% during the first quarter. Blair William & Co. IL now owns 16,156 shares of the construction company’s stock valued at $2,126,000 after buying an additional 2,884 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Quanta Services Trading Up 1.3 %

PWR stock opened at $173.85 on Monday. The business has a fifty day moving average price of $164.20 and a 200 day moving average price of $153.75. Quanta Services, Inc. has a fifty-two week low of $109.25 and a fifty-two week high of $176.29. The stock has a market capitalization of $25.24 billion, a price-to-earnings ratio of 51.28 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.

Quanta Services (NYSE:PWR – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The construction company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. Quanta Services had a return on equity of 15.72% and a net margin of 2.86%. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.27 billion. Analysts expect that Quanta Services, Inc. will post 6.41 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 18th. Stockholders of record on Monday, April 10th were paid a $0.08 dividend. The ex-dividend date was Thursday, April 6th. This represents a $0.32 annualized dividend and a dividend yield of 0.18%. Quanta Services’s dividend payout ratio (DPR) is currently 9.44%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, COO James Redgie Probst sold 50,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $171.13, for a total value of $8,556,500.00. Following the transaction, the chief operating officer now directly owns 50,036 shares in the company, valued at approximately $8,562,660.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO James Redgie Probst sold 50,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $171.13, for a total value of $8,556,500.00. Following the transaction, the chief operating officer now directly owns 50,036 shares in the company, valued at approximately $8,562,660.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Wayne sold 14,476 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $162.89, for a total value of $2,357,995.64. Following the completion of the transaction, the executive vice president now owns 49,647 shares in the company, valued at $8,086,999.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,646 shares of company stock valued at $32,294,398. Company insiders own 1.20% of the company’s stock.

Quanta Services 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.

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

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