Cozad Asset Management Inc. Decreases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Cozad Asset Management Inc. trimmed its stake in Quanta Services, Inc. (NYSE:PWR) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,705 shares of the construction company’s stock after selling 500 shares during the quarter. Cozad Asset Management Inc.’s holdings in Quanta Services were worth $4,682,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Graypoint LLC bought a new stake in shares of Quanta Services during the 3rd quarter worth $217,000. Advisor Resource Council bought a new stake in Quanta Services during the 3rd quarter valued at $984,000. Financial Enhancement Group LLC bought a new stake in shares of Quanta Services in the third quarter worth about $2,538,000. Forte Capital LLC ADV increased its stake in shares of Quanta Services by 15.6% during the third quarter. Forte Capital LLC ADV now owns 5,620 shares of the construction company’s stock valued at $1,676,000 after buying an additional 759 shares during the period. Finally, Concurrent Investment Advisors LLC raised its holdings in Quanta Services by 52.0% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 3,464 shares of the construction company’s stock worth $1,033,000 after purchasing an additional 1,185 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PWR. Wolfe Research assumed coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Robert W. Baird upped their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. TD Cowen boosted their price objective on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, Truist Financial raised their price target on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Price Performance

NYSE:PWR opened at $310.82 on Thursday. The stock has a 50 day moving average price of $292.81 and a 200 day moving average price of $274.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market cap of $45.88 billion, a PE ratio of 57.35 and a beta of 1.01. Quanta Services, Inc. has a one year low of $163.93 and a one year high of $317.91.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.08 earnings per share. Equities research analysts expect that Quanta Services, Inc. will post 7.83 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s payout ratio is currently 6.64%.

Insider Activity

In related news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 202,357 shares of company stock valued at $53,115,572. Insiders own 1.10% of the company’s stock.

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.