Carnegie Capital Asset Management LLC Has $356,000 Stock Position in Quanta Services, Inc. (NYSE:PWR)

Carnegie Capital Asset Management LLC grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 24.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,650 shares of the construction company’s stock after buying an additional 325 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Quanta Services were worth $356,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PWR. Vanguard Group Inc. boosted its holdings in Quanta Services by 1.2% during the first quarter. Vanguard Group Inc. now owns 15,363,311 shares of the construction company’s stock worth $2,021,965,000 after purchasing an additional 182,092 shares during the last quarter. State Street Corp boosted its holdings in Quanta Services by 0.4% during the first quarter. State Street Corp now owns 4,758,029 shares of the construction company’s stock worth $626,204,000 after purchasing an additional 20,702 shares during the last quarter. FMR LLC raised its position in Quanta Services by 1.1% in the third quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock worth $791,171,000 after acquiring an additional 44,141 shares during the period. Geode Capital Management LLC boosted its stake in Quanta Services by 1.8% in the first quarter. Geode Capital Management LLC now owns 3,025,017 shares of the construction company’s stock valued at $502,997,000 after acquiring an additional 53,317 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Quanta Services by 22.4% in the fourth quarter. Morgan Stanley now owns 1,579,601 shares of the construction company’s stock valued at $225,093,000 after acquiring an additional 288,876 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

NYSE PWR opened at $245.97 on Thursday. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The stock has a market capitalization of $36.01 billion, a PE ratio of 49.10 and a beta of 1.11. The company’s 50 day simple moving average is $241.27 and its two-hundred day simple moving average is $208.05.

Quanta Services (NYSE:PWR) last posted its earnings results 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 net margin of 3.57% and a return on equity of 16.46%. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the company posted $1.54 EPS. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. Analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction 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 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 legal filing with the SEC, which is available through the SEC website. Also, EVP Donald Wayne sold 1,101 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 in the last three months. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Truist Financial assumed coverage on shares of 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 boosted their target price on shares of Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research note on Friday, January 26th. 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. Finally, Evercore ISI started coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $239.54.

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.