Neville Rodie & Shaw Inc. Lowers Stake in Quanta Services, Inc. (NYSE:PWR)

Neville Rodie & Shaw Inc. decreased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 5.3% during the third quarter, Holdings Channel.com reports. The fund owned 153,199 shares of the construction company’s stock after selling 8,546 shares during the quarter. Quanta Services accounts for 3.4% of Neville Rodie & Shaw Inc.’s investment portfolio, making the stock its 5th largest holding. Neville Rodie & Shaw Inc.’s holdings in Quanta Services were worth $45,676,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Quanta Services by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after acquiring an additional 105,355 shares during the period. JPMorgan Chase & Co. raised its stake in Quanta Services by 2.4% during the 1st quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock worth $1,756,316,000 after acquiring an additional 156,627 shares during the period. Capital World Investors raised its position in shares of Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after buying an additional 643,011 shares during the last quarter. Electron Capital Partners LLC raised its position in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after buying an additional 2,092,519 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock valued at $313,968,000 after buying an additional 186,306 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now owns 29,002 shares in the company, valued at $7,541,390.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by insiders.

Quanta Services Stock Performance

PWR stock opened at $299.19 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The business has a 50-day moving average price of $267.42 and a 200 day moving average price of $264.42. The company has a market capitalization of $44.08 billion, a P/E ratio of 57.98 and a beta of 1.01. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $306.50.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.47 earnings per share. As a group, equities research analysts forecast that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services’s payout ratio is 6.98%.

Analysts Set New Price Targets

PWR has been the subject of a number of recent research reports. B. Riley raised their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price for the company. Robert W. Baird raised their target price on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Citigroup lifted their price objective on shares of Quanta Services from $299.00 to $302.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Truist Financial reaffirmed a “buy” rating and set a $319.00 price objective (up from $305.00) on shares of Quanta Services in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $286.69.

Quanta Services 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.