Saxon Interests Inc. Invests $1.35 Million in Quanta Services, Inc. (NYSE:PWR)

Saxon Interests Inc. acquired a new position in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 6,267 shares of the construction company’s stock, valued at approximately $1,352,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Nordea Investment Management AB boosted its stake in shares of Quanta Services by 8,297.7% during the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after buying an additional 901,548 shares during the last quarter. Marion Wealth Management bought a new position in Quanta Services in the fourth quarter valued at approximately $1,233,000. Advisor Resource Council grew its stake in shares of Quanta Services by 261.4% during the fourth quarter. Advisor Resource Council now owns 7,604 shares of the construction company’s stock worth $1,641,000 after buying an additional 5,500 shares during the last quarter. WASHINGTON TRUST Co grew its stake in shares of Quanta Services by 2,825.8% during the fourth quarter. WASHINGTON TRUST Co now owns 51,202 shares of the construction company’s stock worth $11,049,000 after buying an additional 49,452 shares during the last quarter. Finally, Petix & Botte Co grew its stake in shares of Quanta Services by 100.0% in the second quarter. Petix & Botte Co now owns 5,344 shares of the construction company’s stock worth $1,050,000 after purchasing an additional 2,672 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Activity

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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Donald Wayne sold 595 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the sale, the executive vice president now owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services 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 completion of the sale, the director now directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on PWR. TD Cowen boosted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Stifel Nicolaus upped their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. KeyCorp initiated coverage on shares of Quanta Services in a research report on Wednesday, January 10th. They issued a “sector weight” rating for the company. The Goldman Sachs Group increased their target price on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Truist Financial assumed coverage on shares of Quanta Services in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $239.54.

Quanta Services Price Performance

Shares of PWR stock traded down $0.13 during mid-day trading on Friday, hitting $259.62. The company had a trading volume of 745,696 shares, compared to its average volume of 844,423. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $262.01. The stock’s 50 day moving average price is $225.49 and its 200-day moving average price is $201.92. 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 company has a market capitalization of $37.84 billion, a P/E ratio of 51.82 and a beta of 1.10.

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 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 company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $1.54 earnings per share. Quanta Services’s revenue was up 31.0% on a year-over-year basis. Equities research analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

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 paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is currently 7.19%.

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.