6,267 Shares in Quanta Services, Inc. (NYSE:PWR) Bought by Saxon Interests Inc.

Saxon Interests Inc. purchased a new stake in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 6,267 shares of the construction company’s stock, valued at approximately $1,352,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Western Wealth Management LLC increased its holdings in shares of Quanta Services by 3.8% in the second quarter. Western Wealth Management LLC now owns 1,597 shares of the construction company’s stock worth $314,000 after buying an additional 59 shares during the period. Central Bank & Trust Co. increased its holdings in shares of Quanta Services by 2.1% in the fourth quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock worth $700,000 after buying an additional 66 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Quanta Services by 0.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock worth $2,340,000 after purchasing an additional 67 shares during the last quarter. Czech National Bank grew its stake in shares of Quanta Services by 0.3% in the fourth quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock worth $5,491,000 after purchasing an additional 67 shares during the last quarter. Finally, Gray Wealth Management Inc. boosted its position in Quanta Services by 6.2% during the 3rd quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company’s stock valued at $218,000 after acquiring an additional 68 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 0.1 %

Shares of NYSE PWR traded down $0.13 during mid-day trading on Friday, reaching $259.62. The company had a trading volume of 745,696 shares, compared to its average volume of 844,423. 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 firm has a 50 day simple moving average of $225.49 and a two-hundred day simple moving average of $201.92. The stock 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 52-week low of $153.74 and a 52-week high of $262.01.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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 during 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%. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 earnings per share. Sell-side analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PWR. KeyCorp began coverage on Quanta Services in a research report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. The Goldman Sachs Group boosted their target price 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. 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. TD Cowen upped their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Finally, Truist Financial began coverage on shares of Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $239.54.

Insiders Place Their Bets

In other news, Director Worthing Jackman sold 9,572 shares of the company’s 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 in the company, valued at $1,776,502.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,125 shares of company stock valued at $11,270,215. 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.