Hartford Investment Management Co. lowered its holdings in shares of Quanta Services Inc (NYSE:PWR) by 35.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,141 shares of the construction company’s stock after selling 8,812 shares during the period. Hartford Investment Management Co.’s holdings in Quanta Services were worth $609,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Fort L.P. acquired a new stake in shares of Quanta Services in the 4th quarter worth $39,000. Valeo Financial Advisors LLC lifted its stake in shares of Quanta Services by 2,541.8% in the 1st quarter. Valeo Financial Advisors LLC now owns 1,453 shares of the construction company’s stock worth $55,000 after acquiring an additional 1,398 shares during the period. Private Capital Group LLC lifted its stake in shares of Quanta Services by 79.6% in the 4th quarter. Private Capital Group LLC now owns 1,690 shares of the construction company’s stock worth $51,000 after acquiring an additional 749 shares during the period. CSat Investment Advisory L.P. lifted its stake in shares of Quanta Services by 53.7% in the 4th quarter. CSat Investment Advisory L.P. now owns 1,858 shares of the construction company’s stock worth $56,000 after acquiring an additional 649 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Quanta Services by 68.9% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,091 shares of the construction company’s stock worth $79,000 after acquiring an additional 853 shares during the period. Institutional investors own 87.27% of the company’s stock.
Shares of PWR opened at $38.72 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 1.84 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $5.50 billion, a PE ratio of 15.30, a P/E/G ratio of 1.50 and a beta of 1.07. Quanta Services Inc has a 52-week low of $27.90 and a 52-week high of $41.00.
The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 5th were issued a $0.04 dividend. The ex-dividend date was Thursday, April 4th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.41%. Quanta Services’s dividend payout ratio is presently 6.32%.
Several analysts have recently commented on PWR shares. B. Riley restated a “buy” rating and issued a $47.00 target price (down previously from $56.00) on shares of Quanta Services in a research note on Monday, March 11th. Citigroup set a $47.00 target price on shares of Quanta Services and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research upgraded shares of Quanta Services from a “sell” rating to a “hold” rating and set a $41.00 target price for the company in a research note on Monday, February 25th. ValuEngine upgraded shares of Quanta Services from a “sell” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, DA Davidson cut shares of Quanta Services from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $42.80.
In other news, EVP Donald Wayne sold 1,295 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $36.09, for a total value of $46,736.55. Following the completion of the transaction, the executive vice president now owns 30,054 shares in the company, valued at approximately $1,084,648.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Redgie Probst sold 100,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $40.00, for a total transaction of $4,000,000.00. Following the completion of the transaction, the insider now owns 47,420 shares of the company’s stock, valued at approximately $1,896,800. The disclosure for this sale can be found here. Insiders sold a total of 105,295 shares of company stock valued at $4,193,257 in the last quarter. Insiders own 1.20% of the company’s stock.
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Quanta Services Company Profile
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
Further Reading: Understanding Compound Annual Growth Rate (CAGR)
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