Chase Investment Counsel Corp Has $4.44 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Chase Investment Counsel Corp decreased its stake in Quanta Services, Inc. (NYSE:PWR) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,579 shares of the construction company’s stock after selling 477 shares during the quarter. Quanta Services makes up about 2.0% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 13th largest position. Chase Investment Counsel Corp’s holdings in Quanta Services were worth $4,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the business. Hazlett Burt & Watson Inc. raised its position in Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. Central Bank & Trust Co. raised its position in shares of Quanta Services by 2.1% during the fourth quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock worth $700,000 after acquiring an additional 66 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Quanta Services by 0.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock worth $2,340,000 after acquiring an additional 67 shares during the last quarter. Czech National Bank raised its position in shares of Quanta Services by 0.3% during the fourth quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock worth $5,491,000 after acquiring an additional 67 shares during the last quarter. Finally, Gray Wealth Management Inc. raised its position in shares of Quanta Services by 6.2% during the third quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company’s stock worth $218,000 after acquiring an additional 68 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PWR shares. TD Cowen increased their target price on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. KeyCorp started coverage on Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Evercore ISI started coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. Truist Financial started coverage on Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. Finally, The Goldman Sachs Group increased their target price on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $247.67.

Insider Activity

In other news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. Insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of PWR stock traded up $2.04 on Monday, reaching $263.70. The company’s stock had a trading volume of 400,336 shares, compared to its average volume of 917,357. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $265.82. The company has a market capitalization of $38.60 billion, a P/E ratio of 52.23 and a beta of 1.11. The stock’s 50 day simple moving average is $246.91 and its 200-day simple moving average is $212.10.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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. The firm had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period last year, the firm earned $1.54 earnings per share. As a group, equities analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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