Millington Financial Advisors LLC Lowers Stock Position in Quanta Services, Inc. (NYSE:PWR)

Millington Financial Advisors LLC cut its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,163 shares of the construction company’s stock after selling 177 shares during the period. Quanta Services accounts for about 1.4% of Millington Financial Advisors LLC’s holdings, making the stock its 18th biggest position. Millington Financial Advisors LLC’s holdings in Quanta Services were worth $1,762,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Carnegie Capital Asset Management LLC grew its holdings in shares of Quanta Services by 24.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock worth $356,000 after purchasing an additional 325 shares during the period. Gradient Investments LLC raised its position in shares of Quanta Services by 669,187.5% during the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock valued at $11,555,000 after acquiring an additional 53,535 shares in the last quarter. Saxon Interests Inc. acquired a new stake in Quanta Services in the fourth quarter worth $1,352,000. Nordea Investment Management AB increased its position in Quanta Services by 8,297.7% in the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after buying an additional 901,548 shares during the period. Finally, Bourgeon Capital Management LLC acquired a new position in shares of Quanta Services during the fourth quarter valued at $4,085,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is owned by insiders.

Quanta Services Price Performance

Quanta Services stock traded up $6.39 on Tuesday, reaching $251.95. The company’s stock had a trading volume of 816,612 shares, compared to its average volume of 923,443. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company has a market cap of $36.88 billion, a price-to-earnings ratio of 50.29 and a beta of 1.11. The business’s fifty day moving average price is $243.37 and its 200 day moving average price is $209.86. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm posted $1.54 earnings per share. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. Equities analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a $0.09 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio is presently 7.19%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PWR. Evercore ISI began coverage on Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective for the company. KeyCorp started coverage on Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. The Goldman Sachs Group boosted their target price on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Truist Financial started coverage on Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price for the company. Finally, DA Davidson lifted their price target on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.23.

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.