Quantum Private Wealth LLC Makes New $299,000 Investment in Quanta Services, Inc. (NYSE:PWR)

Quantum Private Wealth LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, Holdings Channel reports. The firm bought 1,384 shares of the construction company’s stock, valued at approximately $299,000.

Other hedge funds have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. boosted its holdings in Quanta Services by 47.3% in 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 in the last quarter. Central Bank & Trust Co. boosted its stake in Quanta Services by 2.1% in the 4th 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 position in 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 purchasing an additional 67 shares during the last quarter. Czech National Bank increased its stake in 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 purchasing an additional 67 shares in the last quarter. Finally, Gray Wealth Management Inc. raised its holdings 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 worth $218,000 after buying an additional 68 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

PWR has been the subject of several analyst reports. Truist Financial started coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target for the company. DA Davidson lifted their target price on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. The Goldman Sachs Group upped their price target on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a report on Monday, February 26th. Stifel Nicolaus boosted their target price on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, Evercore ISI started coverage on shares of Quanta Services in a report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target on the stock. 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 currently has a consensus rating of “Moderate Buy” and an average price target of $239.54.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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. Also, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the sale, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock valued at $11,270,215 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR traded down $0.20 during trading hours on Wednesday, hitting $248.69. 756,348 shares of the company’s stock traded hands, compared to its average volume of 750,793. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $265.82. The firm has a market capitalization of $36.40 billion, a P/E ratio of 49.62 and a beta of 1.11. 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 business’s fifty day moving average price is $240.53 and its two-hundred day moving average price is $207.78.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. Equities research analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

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

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.