Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,731 shares of the construction company’s stock after buying an additional 219 shares during the period. Quanta Services accounts for approximately 2.4% of Terra Nova Asset Management LLC’s holdings, making the stock its 11th largest holding. Terra Nova Asset Management LLC’s holdings in Quanta Services were worth $2,747,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PWR. ICA Group Wealth Management LLC purchased a new stake in shares of Quanta Services during the 4th quarter valued at about $26,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Quanta Services during the 4th quarter valued at about $28,000. Perkins Coie Trust Co purchased a new stake in Quanta Services during the 3rd quarter worth approximately $30,000. Grove Bank & Trust increased its holdings in 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 purchasing an additional 68 shares during the last quarter. Finally, VisionPoint Advisory Group LLC purchased a new stake in Quanta Services during the 2nd quarter worth approximately $33,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Down 0.1 %

NYSE:PWR opened at $259.62 on Friday. The business’s fifty day moving average price is $225.49 and its 200 day moving average price is $201.92. The company has a current ratio of 1.47, a quick ratio of 1.44 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 $262.01. The firm has a market capitalization of $37.84 billion, a price-to-earnings ratio of 51.82 and a beta of 1.10.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. On average, sell-side analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. KeyCorp assumed coverage on Quanta Services in a research report on Wednesday, January 10th. They issued a “sector weight” rating for the company. The Goldman Sachs Group boosted 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. DA Davidson boosted their price objective on 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 assumed coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective on the stock. Finally, Citigroup boosted their target price on Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.54.

Insider Transactions at Quanta Services

In related news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now owns 7,486 shares in the company, valued at approximately $1,776,502.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 completion of the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,125 shares of company stock worth $11,270,215. 1.20% of the stock is owned by corporate insiders.

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.