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

Strong Tower Advisory Services lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,192 shares of the construction company’s stock after purchasing an additional 474 shares during the period. Quanta Services comprises approximately 1.7% of Strong Tower Advisory Services’ holdings, making the stock its 23rd biggest holding. Strong Tower Advisory Services’ holdings in Quanta Services were worth $3,926,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Quanta Services by 1.2% in the first quarter. Vanguard Group Inc. now owns 15,363,311 shares of the construction company’s stock worth $2,021,965,000 after acquiring an additional 182,092 shares during the last quarter. State Street Corp raised its stake in Quanta Services by 4.7% in the 2nd quarter. State Street Corp now owns 5,651,747 shares of the construction company’s stock valued at $1,110,733,000 after purchasing an additional 252,669 shares during the last quarter. FMR LLC lifted its holdings in Quanta Services by 1.1% in the 3rd quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock valued at $791,171,000 after purchasing an additional 44,141 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Quanta Services by 1.8% during the first quarter. Geode Capital Management LLC now owns 3,025,017 shares of the construction company’s stock worth $502,997,000 after buying an additional 53,317 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Quanta Services by 22.4% in the fourth quarter. Morgan Stanley now owns 1,579,601 shares of the construction company’s stock valued at $225,093,000 after buying an additional 288,876 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction on 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 transaction, the director now directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the 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 transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,125 shares of company stock valued at $11,270,215. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of analyst reports. DA Davidson raised their target price on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Truist Financial started coverage on Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. TD Cowen raised their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Citigroup boosted their price objective on shares of Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Finally, Stifel Nicolaus increased their target price on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.54.

Quanta Services Stock Performance

Shares of 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 one year low of $153.74 and a one year high of $262.01. The business’s 50-day simple moving average is $225.49 and its 200 day simple moving average is $201.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the business earned $1.54 EPS. The business’s revenue was up 31.0% on a year-over-year basis. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is currently 7.19%.

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.