B. Riley Wealth Advisors Inc. Sells 1,027 Shares of Quanta Services, Inc. (NYSE:PWR)

B. Riley Wealth Advisors Inc. trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 19.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,317 shares of the construction company’s stock after selling 1,027 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Quanta Services were worth $932,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Walden Wealth Partners LLC bought a new position in Quanta Services in the fourth quarter valued at approximately $272,000. Vanguard Group Inc. boosted its position in Quanta Services by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company’s stock valued at $3,503,702,000 after buying an additional 191,334 shares in the last quarter. Wahed Invest LLC boosted its position in Quanta Services by 7.3% in the fourth quarter. Wahed Invest LLC now owns 2,454 shares of the construction company’s stock valued at $530,000 after buying an additional 166 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in Quanta Services in the fourth quarter valued at approximately $2,183,000. Finally, Wellington Management Group LLP boosted its position in Quanta Services by 581.3% in the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after buying an additional 99,840 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

PWR stock opened at $273.86 on Friday. The firm has a market cap of $40.09 billion, a price-to-earnings ratio of 53.07 and a beta of 1.05. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87. The company’s fifty day simple moving average is $266.36 and its 200 day simple moving average is $237.46.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, May 2nd. The construction company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.14. The business had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. On average, analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Monday, July 1st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Monday, July 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PWR. Evercore ISI raised their target price on shares of Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. DA Davidson raised their target price on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. B. Riley raised their target price on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Truist Financial reiterated a “buy” rating and set a $305.00 price target (up previously from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Finally, TD Cowen lifted their price target on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $268.85.

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.