LGT Group Foundation Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

LGT Group Foundation purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 2,370 shares of the construction company’s stock, valued at approximately $513,000.

Other hedge funds also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its stake 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 valued at $34,000 after acquiring an additional 52 shares during the period. Central Bank & Trust Co. raised its position in Quanta Services by 2.1% in the fourth quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock worth $700,000 after purchasing an additional 66 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Quanta Services by 0.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock worth $2,340,000 after buying an additional 67 shares during the last quarter. Czech National Bank grew its stake in shares of Quanta Services by 0.3% during the fourth quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock valued at $5,491,000 after purchasing an additional 67 shares during the last quarter. Finally, Gray Wealth Management Inc. boosted its stake in Quanta Services by 6.2% in the third quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company’s stock valued at $218,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling

In other news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the transaction, the director now owns 7,486 shares in the company, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Truist Financial began coverage on shares of Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Evercore ISI initiated 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. The Goldman Sachs Group boosted their target price on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $255.85.

Quanta Services Trading Up 0.5 %

PWR stock opened at $256.33 on Friday. The business has a 50 day simple moving average of $250.69 and a two-hundred day simple moving average of $214.43. 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 $37.52 billion, a price-to-earnings ratio of 49.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.44.

Quanta Services (NYSE:PWR) last released its quarterly earnings data 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. Quanta Services had a return on equity of 16.25% 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 in the previous year, the company posted $1.54 earnings per share. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. Research analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s payout ratio is 6.98%.

Quanta Services Company 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.