Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 17.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,829 shares of the construction company’s stock after purchasing an additional 4,775 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Quanta Services were worth $6,869,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PWR. 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 in the last quarter. Central Bank & Trust Co. lifted its stake in Quanta Services by 2.1% in 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 grew its holdings in Quanta Services by 0.5% during the 3rd 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 in the last quarter. Czech National Bank increased its position in shares of Quanta Services by 0.3% in the 4th quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock valued at $5,491,000 after purchasing an additional 67 shares during the last quarter. Finally, Gray Wealth Management Inc. raised its holdings in shares of Quanta Services by 6.2% in the 3rd quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company’s stock valued at $218,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the transaction, 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. In the last ninety days, insiders have sold 47,125 shares of company stock valued at $11,270,215. Insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

PWR stock traded down $3.81 during trading on Tuesday, hitting $258.53. The stock had a trading volume of 383,205 shares, compared to its average volume of 916,597. The stock has a market cap of $37.84 billion, a price-to-earnings ratio of 52.36 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company’s 50 day moving average price is $247.93 and its two-hundred day moving average price is $212.69. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82.

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

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a dividend of $0.09 per share. 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%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PWR. Stifel Nicolaus increased their price objective on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Truist Financial initiated 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. Citigroup upped their price target on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Evercore ISI initiated coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective on the stock. Finally, KeyCorp began coverage on shares of Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $247.67.

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.