Fidelis Capital Partners LLC Increases Stake in Quanta Services, Inc. (NYSE:PWR)

Fidelis Capital Partners LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 60.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,322 shares of the construction company’s stock after acquiring an additional 873 shares during the period. Fidelis Capital Partners LLC’s holdings in Quanta Services were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PWR. ICA Group Wealth Management LLC bought a new position in shares of Quanta Services in the fourth quarter worth approximately $26,000. Coppell Advisory Solutions Corp. bought a new position in shares of Quanta Services during the fourth quarter worth $28,000. Grove Bank & Trust boosted its position in shares of Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after acquiring an additional 68 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Quanta Services by 1,730.0% during the third quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock worth $34,000 after acquiring an additional 173 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after acquiring an additional 52 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. KeyCorp assumed coverage on shares of Quanta Services in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. TD Cowen increased their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Citigroup increased 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. Finally, Evercore ISI assumed coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.54.

Quanta Services Trading Up 0.4 %

Shares of PWR traded up $0.89 during midday trading on Friday, hitting $246.57. The stock had a trading volume of 205,793 shares, compared to its average volume of 914,636. The firm has a market cap of $36.09 billion, a PE ratio of 49.04 and a beta of 1.11. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82. The stock’s 50 day moving average is $242.03 and its 200 day moving average is $208.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS 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 net margin of 3.57% and a return on equity of 16.46%. Quanta Services’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period last year, the business earned $1.54 EPS. As a group, analysts forecast that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio is presently 7.19%.

Insiders Place Their Bets

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Margaret B. Shannon sold 8,515 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $239.92, for a total value of $2,042,918.80. Following the completion of the sale, the director now owns 34,063 shares of the company’s stock, valued at approximately $8,172,394.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction 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 approximately $10,494,626.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,125 shares of company stock valued at $11,270,215. 1.20% of the stock is 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.