Parkside Financial Bank & Trust Sells 166 Shares of Quanta Services, Inc. (NYSE:PWR)

Parkside Financial Bank & Trust decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 14.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 979 shares of the construction company’s stock after selling 166 shares during the period. Parkside Financial Bank & Trust’s holdings in Quanta Services were worth $211,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PWR. Nordea Investment Management AB raised its holdings in Quanta Services by 8,297.7% during 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 last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Quanta Services by 1,494.0% in the third quarter. Qube Research & Technologies Ltd now owns 304,126 shares of the construction company’s stock valued at $56,893,000 after purchasing an additional 285,047 shares during the last quarter. Scout Investments Inc. raised its holdings in shares of Quanta Services by 20.3% in the third quarter. Scout Investments Inc. now owns 921,186 shares of the construction company’s stock valued at $162,718,000 after purchasing an additional 155,586 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $31,730,000. Finally, Trust Point Inc. purchased a new stake in shares of Quanta Services in the fourth quarter valued at about $28,072,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PWR. KeyCorp began coverage on shares of Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Evercore ISI assumed coverage on shares of Quanta Services in a report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective for the company. TD Cowen raised their price objective 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. Stifel Nicolaus raised their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, DA Davidson raised their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $243.23.

Quanta Services Stock Performance

Shares of NYSE:PWR traded up $0.55 during mid-day trading on Wednesday, reaching $252.50. 463,106 shares of the company traded hands, compared to its average volume of 917,272. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $265.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The firm has a market cap of $36.96 billion, a PE ratio of 50.29 and a beta of 1.11. The company’s 50 day moving average price is $243.37 and its 200-day moving average price is $209.86.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the company posted $1.54 EPS. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. On average, equities analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is currently 7.19%.

Insider Activity

In other news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction that occurred on 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 approximately $10,494,626.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret B. Shannon sold 8,515 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $239.92, for a total value of $2,042,918.80. Following the completion of the sale, the director now owns 34,063 shares in the company, valued at approximately $8,172,394.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is currently owned by insiders.

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.