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  • Koshinski Asset Management Inc. sells 2,246 shares of Quanta Services, Inc. (NYSE: PWR)

Koshinski Asset Management Inc. sells 2,246 shares of Quanta Services, Inc. (NYSE: PWR)

By on July 3, 2022 0

Koshinski Asset Management Inc. reduced its stake in Quanta Services, Inc. (NYSE:PWRGet a rating) by 29.3% in the 1st quarter, HoldingsChannel reports. The company held 5,427 shares of the construction company after selling 2,246 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Quanta Services were worth $714,000 at the end of the most recent reporting period.

Other institutional investors also bought and sold shares of the company. Strs Ohio increased its stake in shares of Quanta Services by 16.2% in the fourth quarter. Strs Ohio now owns 20,574 shares of the construction company valued at $2,359,000 after buying 2,865 additional shares last quarter. Private Advisory Group LLC acquired a new stake in Quanta Services in Q4 valued at approximately $277,000. Hartford Investment Management Co. increased its stake in shares of Quanta Services by 9.8% in the fourth quarter. Hartford Investment Management Co. now owns 14,752 shares of the construction company worth $1,691,000 after acquiring 1,312 additional shares in the last quarter. Stonnington Group LLC acquired a new position in shares of Quanta Services during the first quarter worth approximately $709,000. Finally, LPL Financial LLC increased its stake in shares of Quanta Services by 51.3% during the fourth quarter. LPL Financial LLC now owns 99,141 shares of the construction company valued at $11,368,000 after purchasing an additional 33,622 shares in the last quarter. 87.16% of the shares are currently held by institutional investors.

Separately, CEO Earl C. Jr. Austin sold 135,000 shares of the company 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, available at this hyperlink. Additionally, director Vincent D. Foster sold 14,948 shares in a trade dated Wednesday, June 22. The stock was sold at an average price of $119.01, for a total value of $1,778,961.48. Following the transaction, the director now owns 204,925 shares of the company, valued at approximately $24,388,124.25. Disclosure of this sale can be found here. Insiders own 1.30% of the shares of the company.

A number of brokerages have commented on PWR. B. Riley raised his price target on Quanta Services from $129.00 to $138.00 in a Friday, May 6 research report. Cowen raised its price target on Quanta Services from $130.00 to $145.00 and gave the company an “outperform” rating in a Thursday, May 26 report. KeyCorp raised its price target on Quanta Services from $129.00 to $156.00 in a Thursday, April 14 report. StockNews.com began covering Quanta Services shares in a research note on Thursday, March 31. They issued a “holding” rating on the stock. Finally, Piper Sandler raised her price target on Quanta Services shares from $144.00 to $150.00 and gave the stock an “overweight” rating in a Wednesday, April 6 research note. Two research analysts gave the stock a hold rating and ten gave the company a buy rating. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.18.

Shares of NYSE:PWR opened at $126.14 on Friday. The company has a 50-day moving average price of $119.76 and a two-hundred-day moving average price of $116.62. The company has a debt ratio of 0.74, a quick ratio of 1.48 and a current ratio of 1.51. The company has a market capitalization of $18.13 billion, a PE ratio of 38.22 and a beta of 1.19. Quanta Services, Inc. has a 52 week minimum of $84.40 and a 52 week maximum of $140.04.

Quantum services (NYSE:PWRGet a rating) last announced its quarterly results on Thursday, May 5. The construction company reported earnings per share (EPS) of $1.26 for the quarter, beating the consensus estimate of $1.09 by $0.17. The company posted revenue of $3.97 billion in the quarter, versus analyst estimates of $3.60 billion. Quanta Services achieved a net margin of 3.38% and a return on equity of 14.98%. The company’s revenue increased 46.7% year over year. In the same quarter of the previous year, the company achieved EPS of $0.73. On average, sell-side analysts expect Quanta Services, Inc. to post earnings per share of 5.79 for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Friday, July 1 will receive a dividend of $0.07 per share. This represents a dividend of $0.28 on an annualized basis and a dividend yield of 0.22%. The ex-date of this dividend is Thursday, June 30. Quanta Services’ dividend payout ratio is currently 8.48%.

About Quanta Services (Get a rating)

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. electrical 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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Want to see which other hedge funds hold PWRs? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWRGet a rating).

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



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