Norris Perne & French LLP MI Has $33.65 Million Position in Quanta Services, Inc. (NYSE:PWR)

Norris Perne & French LLP MI boosted its position in Quanta Services, Inc. (NYSE:PWR) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,937 shares of the construction company’s stock after purchasing an additional 14,917 shares during the quarter. Quanta Services makes up 2.6% of Norris Perne & French LLP MI’s portfolio, making the stock its 7th biggest position. Norris Perne & French LLP MI owned approximately 0.11% of Quanta Services worth $33,651,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Pallas Capital Advisors LLC boosted its position in shares of Quanta Services by 17.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 11,252 shares of the construction company’s stock valued at $2,428,000 after buying an additional 1,693 shares during the last quarter. Tower Wealth Partners Inc. purchased a new position in Quanta Services in the fourth quarter worth about $211,000. Chicago Capital LLC purchased a new position in Quanta Services in the fourth quarter worth about $6,834,000. PFG Private Wealth Management LLC boosted its position in Quanta Services by 333.5% in the fourth quarter. PFG Private Wealth Management LLC now owns 932 shares of the construction company’s stock worth $201,000 after purchasing an additional 717 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in Quanta Services by 439.1% in the fourth quarter. AdvisorNet Financial Inc now owns 2,000 shares of the construction company’s stock worth $432,000 after purchasing an additional 1,629 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Down 0.9 %

Shares of PWR opened at $257.00 on Tuesday. The stock has a market capitalization of $37.46 billion, a price-to-earnings ratio of 51.30 and a beta of 1.11. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $262.01. The business’s 50 day simple moving average is $227.75 and its 200-day simple moving average is $202.70. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44.

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 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 company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm posted $1.54 EPS. Quanta Services’s quarterly revenue was up 31.0% compared to the same quarter last year. As a group, equities analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date is Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

Analysts Set New Price Targets

Several research analysts have issued reports on PWR shares. TD Cowen raised their target price on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. DA Davidson lifted their price objective on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Stifel Nicolaus lifted their price objective on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Citigroup lifted their price objective on Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, Evercore ISI began coverage on Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $239.54.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction on 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 transaction, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the transaction, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the company’s 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 sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock valued at $11,270,215 in the last quarter. 1.30% of the stock is owned by insiders.

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.