abrdn plc Has $21.49 Million Position in Quanta Services, Inc. (NYSE:PWR)

abrdn plc grew its stake in Quanta Services, Inc. (NYSE:PWR) by 31.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,560 shares of the construction company’s stock after acquiring an additional 24,013 shares during the period. abrdn plc owned 0.07% of Quanta Services worth $21,485,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. J.W. Cole Advisors Inc. lifted its holdings in shares of Quanta Services by 1.8% during the 4th quarter. J.W. Cole Advisors Inc. now owns 4,608 shares of the construction company’s stock valued at $994,000 after purchasing an additional 82 shares in the last quarter. Institute for Wealth Management LLC. boosted its position in Quanta Services by 9.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,332 shares of the construction company’s stock worth $503,000 after acquiring an additional 205 shares during the last quarter. Ninepoint Partners LP grew its stake in shares of Quanta Services by 53.4% during the 4th quarter. Ninepoint Partners LP now owns 10,031 shares of the construction company’s stock worth $2,165,000 after acquiring an additional 3,490 shares in the last quarter. Fidelis Capital Partners LLC raised its holdings in shares of Quanta Services by 60.2% in the fourth quarter. Fidelis Capital Partners LLC now owns 2,322 shares of the construction company’s stock valued at $501,000 after purchasing an additional 873 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in Quanta Services by 1.7% during the fourth quarter. Xponance Inc. now owns 22,076 shares of the construction company’s stock worth $4,764,000 after purchasing an additional 377 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

PWR has been the topic of several analyst reports. The Goldman Sachs Group boosted their price target on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Truist Financial assumed coverage on Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. TD Cowen raised their target price on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Citigroup increased their price target on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday. Finally, Stifel Nicolaus boosted their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.23.

Insider Activity at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction that occurred 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 sale, the executive vice president now directly 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 at the SEC website. In related news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margaret B. Shannon sold 8,515 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $239.92, for a total value of $2,042,918.80. Following the completion of the transaction, the director now owns 34,063 shares of the company’s stock, valued at $8,172,394.96. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock valued at $11,270,215 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Quanta Services Stock Performance

PWR opened at $251.95 on Wednesday. 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 company has a market capitalization of $36.88 billion, a PE ratio of 50.29 and a beta of 1.11. The business has a fifty day simple moving average of $243.37 and a 200 day simple moving average of $209.86. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the firm earned $1.54 earnings per share. Quanta Services’s revenue for the quarter was up 31.0% compared to the same quarter last year. Research analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

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