Court Place Advisors LLC Takes Position in Quanta Services, Inc. (NYSE:PWR)

Court Place Advisors LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 950 shares of the construction company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also made changes to their positions in PWR. Norges Bank purchased a new position in shares of Quanta Services in the fourth quarter valued at $180,853,000. Nordea Investment Management AB boosted its stake in Quanta Services by 8,297.7% during the 4th 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. Royal Bank of Canada boosted its stake in Quanta Services by 52.2% during the 1st quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock valued at $196,405,000 after acquiring an additional 511,508 shares during the last quarter. Deutsche Bank AG boosted its stake in Quanta Services by 113.7% during the 1st quarter. Deutsche Bank AG now owns 643,054 shares of the construction company’s stock valued at $107,159,000 after acquiring an additional 342,100 shares during the last quarter. Finally, CI Private Wealth LLC bought a new position in Quanta Services during the 4th quarter valued at $42,168,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction that occurred 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 transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,125 shares of company stock valued at $11,270,215. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Truist Financial initiated coverage on shares of Quanta Services in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Stifel Nicolaus raised their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. TD Cowen raised their price target on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Finally, KeyCorp initiated coverage on shares of Quanta Services in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $239.54.

Quanta Services Stock Performance

Shares of PWR stock traded up $1.10 during trading hours on Thursday, reaching $247.06. The stock had a trading volume of 127,233 shares, compared to its average volume of 909,845. The firm has a market capitalization of $36.16 billion, a PE ratio of 49.10 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The firm has a 50-day simple moving average of $241.27 and a 200-day simple moving average of $208.05. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82.

Quanta Services (NYSE:PWR) last released 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. The firm had revenue of $5.78 billion for 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 quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the company earned $1.54 EPS. As a group, equities analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

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

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.