GAMMA Investing LLC Acquires Shares of 1,095 Quanta Services, Inc. (NYSE:PWR)

GAMMA Investing LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,095 shares of the construction company’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Nordea Investment Management AB lifted its stake in Quanta Services by 8,297.7% in the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after acquiring an additional 901,548 shares during the period. Qube Research & Technologies Ltd raised its holdings in shares of Quanta Services by 1,494.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 304,126 shares of the construction company’s stock worth $56,893,000 after acquiring an additional 285,047 shares during the period. Scout Investments Inc. raised its holdings in shares of Quanta Services by 20.3% during the 3rd quarter. Scout Investments Inc. now owns 921,186 shares of the construction company’s stock worth $162,718,000 after acquiring an additional 155,586 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Quanta Services during the 4th quarter worth $31,730,000. Finally, Trust Point Inc. purchased a new stake in Quanta Services in the 4th quarter valued at about $28,072,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’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 completion of the sale, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald Wayne sold 8,842 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $242.27, for a total value of $2,142,151.34. Following the completion of the sale, the executive vice president now owns 44,129 shares of the company’s stock, valued at $10,691,132.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Quanta Services stock opened at $255.19 on Friday. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $265.82. The stock’s 50 day moving average is $245.08 and its 200-day moving average is $210.71. 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 company has a market capitalization of $37.35 billion, a price-to-earnings ratio of 50.94 and a beta of 1.11.

Quanta Services (NYSE:PWR) last posted its earnings results 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 company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 earnings per share. Equities research analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is currently 7.19%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PWR shares. Citigroup boosted their price target on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday. The Goldman Sachs Group increased their price objective on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. KeyCorp began coverage on Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Truist Financial assumed coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Finally, Evercore ISI assumed coverage on Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price for the company. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $247.67.

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.