Millington Financial Advisors LLC Has $1.76 Million Position in Quanta Services, Inc. (NYSE:PWR)

Millington Financial Advisors LLC lessened its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,163 shares of the construction company’s stock after selling 177 shares during the period. Quanta Services makes up 1.4% of Millington Financial Advisors LLC’s portfolio, making the stock its 18th biggest position. Millington Financial Advisors LLC’s holdings in Quanta Services were worth $1,762,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PWR. Grove Bank & Trust lifted its position in shares of Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after buying an additional 68 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in shares of Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after purchasing an additional 52 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Quanta Services by 1,730.0% in the third quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock valued at $34,000 after purchasing an additional 173 shares in the last quarter. Valley National Advisers Inc. bought a new stake in Quanta Services during the fourth quarter worth $41,000. Finally, NBC Securities Inc. purchased a new stake in Quanta Services in the third quarter worth $36,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 2.6 %

NYSE PWR traded up $6.39 during trading hours on Tuesday, hitting $251.95. 816,612 shares of the company were exchanged, compared to its average volume of 923,443. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $265.82. The firm has a market cap of $36.88 billion, a price-to-earnings ratio of 50.29 and a beta of 1.11. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $243.37 and a two-hundred day moving average of $209.86.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period last year, the firm earned $1.54 EPS. Equities research analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

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

Insiders Place Their Bets

In related news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,125 shares of company stock valued at $11,270,215. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PWR. TD Cowen boosted their target price on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Citigroup boosted their target price on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday. The Goldman Sachs Group boosted their target price on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Evercore ISI began coverage on Quanta Services in a report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target on the stock. Finally, DA Davidson upped their target price on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus target price of $243.23.

About Quanta Services

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.