LGT Group Foundation Purchases Shares of 2,370 Quanta Services, Inc. (NYSE:PWR)

LGT Group Foundation purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,370 shares of the construction company’s stock, valued at approximately $513,000.

Several other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust boosted its holdings in shares of Quanta Services by 75.6% in 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 period. Hazlett Burt & Watson Inc. grew its position in Quanta Services by 47.3% in the 4th 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 last quarter. NBC Securities Inc. bought a new position in Quanta Services in the 3rd quarter valued at $36,000. Valley National Advisers Inc. bought a new position in Quanta Services in the 4th quarter valued at $41,000. Finally, Planned Solutions Inc. bought a new position in Quanta Services in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Up 0.5 %

Shares of PWR stock opened at $256.33 on Friday. The stock’s 50-day simple moving average is $250.69 and its 200-day simple moving average is $214.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.44 and a current ratio of 1.36. The firm has a market capitalization of $37.52 billion, a PE ratio of 49.68 and a beta of 1.10. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $265.82.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. Quanta Services’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period last year, the company earned $1.54 earnings per share. Equities analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

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. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio is currently 6.98%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PWR shares. The Goldman Sachs Group upped their target price on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Evercore ISI assumed coverage on Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective for the company. Stifel Nicolaus upped their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. B. Riley upped their price objective on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research note on Friday. Finally, TD Cowen upped their price objective on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.85.

Insiders Place Their Bets

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the 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 transaction, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Derrick A. Jensen sold 18,500 shares of the firm’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 transaction, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is owned by corporate 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.