Terra Nova Asset Management LLC Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

Terra Nova Asset Management LLC lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,731 shares of the construction company’s stock after buying an additional 219 shares during the quarter. Quanta Services makes up 2.4% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 11th largest position. Terra Nova Asset Management LLC’s holdings in Quanta Services were worth $2,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PWR. ICA Group Wealth Management LLC purchased a new stake in shares of Quanta Services during the fourth quarter worth about $26,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Quanta Services during the fourth quarter worth about $28,000. Perkins Coie Trust Co purchased a new stake in Quanta Services in the third quarter valued at approximately $30,000. Grove Bank & Trust grew its holdings in Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after purchasing an additional 68 shares during the period. Finally, VisionPoint Advisory Group LLC acquired a new position in Quanta Services during the second quarter valued at approximately $33,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Evercore ISI assumed coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price on the stock. TD Cowen upped their price target 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. 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. Truist Financial started 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 for the company. Finally, 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 report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $239.54.

Quanta Services Trading Down 0.1 %

Shares of PWR stock opened at $259.62 on Friday. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $262.01. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The company has a market cap of $37.84 billion, a PE ratio of 51.82 and a beta of 1.10. The business’s 50 day moving average is $225.49 and its two-hundred day moving average is $201.92.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $5.19 billion. During the same period in the prior year, the company posted $1.54 earnings per share. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. Equities analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders 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 yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is currently 7.19%.

Insiders Place Their Bets

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated 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 sale, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock valued at $11,270,215 in the last quarter. 1.20% of the stock is currently owned by insiders.

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.