Terra Nova Asset Management LLC Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Terra Nova Asset Management LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,731 shares of the construction company’s stock after purchasing an additional 219 shares during the period. Quanta Services makes up approximately 2.4% of Terra Nova Asset Management LLC’s holdings, making the stock its 11th largest position. Terra Nova Asset Management LLC’s holdings in Quanta Services were worth $2,747,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Western Wealth Management LLC grew its position in shares of Quanta Services by 3.8% during the 2nd quarter. Western Wealth Management LLC now owns 1,597 shares of the construction company’s stock valued at $314,000 after acquiring an additional 59 shares during the period. Central Bank & Trust Co. raised its position in shares of Quanta Services by 2.1% during the 4th quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock valued at $700,000 after buying an additional 66 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Quanta Services by 0.5% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock valued at $2,340,000 after buying an additional 67 shares in the last quarter. Czech National Bank raised its position in shares of Quanta Services by 0.3% during the 4th quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock valued at $5,491,000 after buying an additional 67 shares in the last quarter. Finally, Gray Wealth Management Inc. raised its position in Quanta Services by 6.2% in the 3rd quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company’s stock worth $218,000 after purchasing an additional 68 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 0.1 %

Shares of NYSE PWR opened at $259.62 on Friday. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $262.01. The stock has a market cap of $37.84 billion, a PE ratio of 51.82 and a beta of 1.10. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $225.49 and a 200 day moving average of $201.92.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. Quanta Services’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.54 EPS. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is currently 7.19%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Cowen increased their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. DA Davidson upped their target price on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Evercore ISI initiated coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective on the stock. KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. Finally, Citigroup raised their target price on shares of Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $239.54.

Insider Transactions at Quanta Services

In other news, 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 in the company, valued at approximately $1,776,502.66. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the sale, the director now directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,125 shares of company stock worth $11,270,215. 1.20% 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.