Commerce Bank sells 430 shares of Quanta Services, Inc. (NYSE: PWR)

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Commerce Bank reduced its stake in shares of Quanta Services, Inc. (NYSE: PWR – Get Rating) by 5.1% during the 1st quarter, according to its most recent Form 13F filed with the Securities and Exchange Commission (SEC). . The fund held 7,967 shares of the construction company after selling 430 shares during the quarter. Commerce Bank‘s holdings in Quanta Services were worth $1,049,000 at the end of the last quarter.

Several other hedge funds also changed their stock holdings. Benjamin Edwards Inc. increased its stake in Quanta Services by 435.0% in the fourth quarter. Benjamin Edwards Inc. now owns 214 shares of the construction company valued at $25,000 after acquiring 174 more shares in the last quarter. Riverview Trust Co bought a new position in Quanta Services in the first quarter worth approximately $34,000. Allworth Financial LP increased its stake in Quanta Services by 1,656.3% in the first quarter. Allworth Financial LP now owns 281 shares of the construction company valued at $37,000 after acquiring a further 265 shares in the last quarter. Cyrus J. Lawrence LLC bought a new position in Quanta Services in the first quarter worth approximately $38,000. Finally, First Horizon Advisors Inc. increased its stake in Quanta Services by 113.3% in the fourth quarter. First Horizon Advisors Inc. now owns 320 shares of the construction company valued at $35,000 after acquiring an additional 170 shares in the last quarter. 87.16% of the stock is held by institutional investors.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 135,000 shares of Quanta Services in a trade on Friday, June 10. The shares were sold at an average price of $126.48, for a total value of $17,074,800.00. Following the sale, the CEO now directly owns 689,030 shares of the company, valued at approximately $87,148,514.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. In other Quanta Services news, CEO Earl C. Jr. Austin sold 135,000 shares of Quanta Services in a trade on Friday, June 10. The shares were sold at an average price of $126.48, for a total value of $17,074,800.00. As a result of the sale, the CEO now directly owns 689,030 shares of the company, valued at approximately $87,148,514.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Additionally, director Vincent D. Foster sold 14,948 shares of Quanta Services in a trade dated Wednesday, June 22. The shares were sold at an average price of $119.01, for a total transaction of $1,778,961.48. Following completion of the transaction, the administrator now directly owns 204,925 shares of the company, valued at approximately $24,388,124.25. The disclosure of this sale can be found here. Insiders of the company own 1.30% of the shares of the company.

A Wall Street analyst gives his opinion

EPRs have been the subject of a number of recent research reports. Argus launched a hedge on the shares of Quanta Services in a Friday, July 15 research note. They issued a “buy” rating and a price target of $150.00 on the stock. DA Davidson raised its target price on Quanta Services shares to $125.00 in a Tuesday, August 9 report. Cowen raised its target price on Quanta Services shares from $145.00 to $155.00 in a report released Thursday. UBS Group upgraded Quanta Services shares from a “neutral” rating to a “buy” rating and raised its target price for the stock from $140.00 to $156.00 in a Monday, June 13 report . Finally, Cowen raised his price target on Quanta Services shares from $145.00 to $155.00 and gave the stock an “outperform” rating in a report released Thursday. Two analysts gave the stock a hold rating and twelve gave the company a buy rating. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Quanta Services trades up 1.6%

NYSE:PWR shares opened at $143.46 on Monday. Quanta Services, Inc. has a 12-month low of $92.86 and a 12-month high of $146.84. The company has a quick ratio of 1.53, a current ratio of 1.56 and a leverage ratio of 0.75. The company’s fifty-day simple moving average is $129.75 and its 200-day simple moving average is $122.14. The company has a market capitalization of $20.52 billion, a price-earnings ratio of 46.58 and a beta of 1.10.

Quanta Services (NYSE:PWR – Get Rating) last released quarterly earnings data on Thursday, August 4. The construction company reported EPS of $1.54 for the quarter, beating analyst consensus estimates of $1.38 by $0.16. Quanta Services achieved a net margin of 2.92% and a return on equity of 15.97%. The company posted revenue of $4.23 billion for the quarter, versus analyst estimates of $4.03 billion. During the same period last year, the company posted earnings per share of $0.93. The company’s quarterly revenue increased 41.1% year over year. As a group, research analysts expect Quanta Services, Inc. to post EPS of 5.76 for the current fiscal year.

Quanta Services announces a dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 15. Shareholders of record on Friday, July 1 received a dividend of $0.07. The ex-dividend date was Thursday, June 30. This represents an annualized dividend of $0.28 and a yield of 0.20%. Quanta Services’ payout ratio is currently 9.09%.

Quanta Services Profile

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Quanta Services, Inc provides specialized contract services worldwide. The Electric Power Infrastructure Solutions segment is engaged in the design, procurement, construction, upgrade, repair and maintenance of power transmission and distribution infrastructure. electric power and substation installations; installation, maintenance and live upgrade of power supply infrastructure projects; installation of smart grid technologies on power grids; and the design, installation, maintenance and repair of commercial and industrial wiring.

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Institutional ownership by quarter for Quanta Services (NYSE:PWR)



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