Wealth Alliance Buys 78 Shares of Quanta Services, Inc. (NYSE:PWR)

Wealth Alliance grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,264 shares of the construction company’s stock after buying an additional 78 shares during the period. Wealth Alliance’s holdings in Quanta Services were worth $489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Riverstone Advisors LLC bought a new position in shares of Quanta Services in the fourth quarter worth approximately $221,000. Flputnam Investment Management Co. bought a new position in shares of Quanta Services in the fourth quarter worth approximately $474,000. Bourgeon Capital Management LLC bought a new position in Quanta Services during the fourth quarter valued at approximately $4,085,000. Mackenzie Financial Corp grew its position in Quanta Services by 5.8% during the fourth quarter. Mackenzie Financial Corp now owns 12,169 shares of the construction company’s stock valued at $2,626,000 after acquiring an additional 669 shares during the last quarter. Finally, Conning Inc. bought a new position in Quanta Services during the fourth quarter valued at approximately $216,000. 90.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction dated 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 directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated 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 directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares in the company, 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. Insiders own 1.20% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $245.97 on Thursday. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. 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 business has a fifty day moving average price of $241.27 and a 200-day moving average price of $208.05. The company has a market capitalization of $36.01 billion, a PE ratio of 49.10 and a beta of 1.11.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share 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 during the quarter, compared to the consensus estimate of $5.19 billion. During the same period last year, the company earned $1.54 earnings per share. The company’s revenue was up 31.0% on a year-over-year basis. As a group, equities analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a $0.09 dividend. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Truist Financial began coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Evercore ISI began 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. Citigroup increased their price objective on Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research note on Friday, January 26th. The Goldman Sachs Group raised their price objective on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, KeyCorp started coverage on Quanta Services in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.54.

Quanta Services Company 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.