Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Strong Tower Advisory Services

Strong Tower Advisory Services raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,192 shares of the construction company’s stock after buying an additional 474 shares during the quarter. Quanta Services comprises 1.7% of Strong Tower Advisory Services’ holdings, making the stock its 23rd largest position. Strong Tower Advisory Services’ holdings in Quanta Services were worth $3,926,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC acquired a new position in Quanta Services during the 4th quarter valued at approximately $26,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Quanta Services during the fourth quarter worth about $28,000. Perkins Coie Trust Co purchased a new stake in Quanta Services in the third quarter valued at approximately $30,000. Grove Bank & Trust increased its holdings in 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 buying an additional 68 shares during the period. Finally, VisionPoint Advisory Group LLC acquired a new stake in Quanta Services during the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

NYSE:PWR opened at $259.62 on Friday. The company has a market cap of $37.84 billion, a P/E ratio of 51.82 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $262.01. The company’s 50-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 (NYSE:PWR) last posted its quarterly earnings results 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. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The business’s revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.54 earnings per share. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.14%. Quanta Services’s payout ratio is 7.19%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Stifel Nicolaus lifted their price objective on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Evercore ISI assumed coverage on Quanta Services in a report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price on the stock. Truist Financial initiated coverage on Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. Finally, The Goldman Sachs Group raised their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $239.54.

Insider Activity

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction 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 sale, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Donald Wayne sold 595 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the sale, the executive vice president now directly owns 41,954 shares in the company, valued at $10,052,597.94. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock valued at $11,270,215 in the last 90 days. Company insiders own 1.20% of the company’s stock.

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.