Quantum Private Wealth LLC Buys New Position in Quanta Services, Inc. (NYSE:PWR)

Quantum Private Wealth LLC purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,384 shares of the construction company’s stock, valued at approximately $299,000.

Other hedge funds also recently made changes to their positions in the company. Gradient Investments LLC boosted its holdings in Quanta Services by 669,187.5% during the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after purchasing an additional 53,535 shares during the last quarter. Saxon Interests Inc. bought a new position in shares of Quanta Services in the 4th quarter valued at about $1,352,000. Nordea Investment Management AB increased its position in shares of Quanta Services by 8,297.7% in the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after acquiring an additional 901,548 shares during the last quarter. Bourgeon Capital Management LLC acquired a new position in Quanta Services during the fourth quarter valued at approximately $4,085,000. Finally, Chicago Capital LLC bought a new position in Quanta Services in the fourth quarter valued at approximately $6,834,000. 90.49% of the stock is owned by institutional investors.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction on Wednesday, March 27th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction 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 completion of the sale, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were 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 $10,494,626.10. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 in the last quarter. Company insiders own 1.30% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR traded down $0.20 during trading on Wednesday, hitting $248.69. 756,348 shares of the company were exchanged, compared to its average volume of 750,793. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. The company has a market capitalization of $36.40 billion, a P/E ratio of 49.62 and a beta of 1.11. The business’s 50 day moving average is $240.53 and its 200-day moving average is $207.78.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating 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 firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the company earned $1.54 earnings per share. The business’s quarterly revenue was up 31.0% on a year-over-year basis. Equities analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s payout ratio is currently 7.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group upped their price objective on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Citigroup lifted their price objective on shares of Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Stifel Nicolaus upped their target price on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. KeyCorp initiated coverage on Quanta Services in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Finally, Truist Financial began coverage on Quanta Services in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective for the company. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.54.

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.