Wealth Alliance Raises Holdings in Quanta Services, Inc. (NYSE:PWR)

Wealth Alliance increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,264 shares of the construction company’s stock after purchasing an additional 78 shares during the quarter. Wealth Alliance’s holdings in Quanta Services were worth $489,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Quanta Services during the fourth quarter worth about $180,853,000. Nordea Investment Management AB lifted its position in shares of 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 valued at $196,205,000 after acquiring an additional 901,548 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Quanta Services by 52.2% in the first quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock valued at $196,405,000 after acquiring an additional 511,508 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Quanta Services by 113.7% in the first quarter. Deutsche Bank AG now owns 643,054 shares of the construction company’s stock valued at $107,159,000 after acquiring an additional 342,100 shares in the last quarter. Finally, CI Private Wealth LLC purchased a new position in shares of Quanta Services in the fourth quarter valued at approximately $42,168,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PWR has been the topic of several research reports. The Goldman Sachs Group raised their target price on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. KeyCorp assumed coverage on Quanta Services in a research report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Citigroup lifted their price objective on Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Truist Financial assumed coverage on Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. Finally, TD Cowen lifted their price objective on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $239.54.

Quanta Services Trading Down 1.1 %

Shares of NYSE PWR opened at $245.97 on Thursday. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82. 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 stock has a fifty day simple moving average of $241.27 and a 200-day simple moving average of $208.05. The stock has a market capitalization of $36.01 billion, a PE ratio of 49.10 and a beta of 1.11.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data 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 return on equity of 16.46% and a net margin of 3.57%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the firm posted $1.54 earnings per share. The company’s revenue was up 31.0% on a year-over-year basis. On average, equities analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a $0.09 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

Insider Activity at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Quanta Services news, Director Margaret B. Shannon sold 8,515 shares of Quanta Services stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the completion of the sale, the director now directly owns 34,063 shares of the company’s stock, valued at approximately $8,172,394.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value 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 disclosure for this sale can be found here. Over the last three months, insiders sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.20% of the company’s stock.

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.