Terra Nova Asset Management LLC Has $2.75 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Terra Nova Asset Management LLC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,731 shares of the construction company’s stock after buying an additional 219 shares during the period. Quanta Services makes up about 2.4% of Terra Nova Asset Management LLC’s holdings, making the stock its 11th biggest position. Terra Nova Asset Management LLC’s holdings in Quanta Services were worth $2,747,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PWR. Grove Bank & Trust grew its stake in Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after purchasing an additional 68 shares in the last quarter. Perkins Coie Trust Co bought a new stake in shares of Quanta Services during the 3rd quarter worth about $30,000. VisionPoint Advisory Group LLC bought a new stake in shares of Quanta Services during the 2nd quarter worth about $33,000. ICA Group Wealth Management LLC bought a new stake in shares of Quanta Services during the 4th quarter worth about $26,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Quanta Services by 1,730.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock worth $34,000 after acquiring an additional 173 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $259.62 on Friday. The stock’s fifty day simple moving average is $225.49 and its 200 day simple moving average is $201.92. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $262.01. The company has a market capitalization of $37.84 billion, a PE ratio of 51.82 and a beta of 1.10. 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 released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the business posted $1.54 EPS. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. On average, research analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently issued reports on PWR. TD Cowen upped their price target on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. 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 increased their target price on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. DA Davidson increased 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. Finally, Evercore ISI started coverage on Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target on the stock. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.54.

Insider Buying and Selling

In other news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was 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 $10,494,626.10. 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, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction on Tuesday, February 27th. The shares were 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 $62,476,452.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,125 shares of company stock worth $11,270,215. Corporate 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.