4,327 Shares in Quanta Services, Inc. (NYSE:PWR) Bought by Choreo LLC

Choreo LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,327 shares of the construction company’s stock, valued at approximately $934,000.

A number of other institutional investors have also recently made changes to their positions in the stock. AE Wealth Management LLC boosted its position in Quanta Services by 22.0% during the 3rd quarter. AE Wealth Management LLC now owns 1,593 shares of the construction company’s stock valued at $298,000 after acquiring an additional 287 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Quanta Services by 9.8% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,150 shares of the construction company’s stock worth $5,453,000 after buying an additional 2,600 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Quanta Services by 86.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 30,646 shares of the construction company’s stock valued at $5,733,000 after purchasing an additional 14,241 shares during the last quarter. Xponance Inc. raised its stake in Quanta Services by 1.7% during the 3rd quarter. Xponance Inc. now owns 21,699 shares of the construction company’s stock valued at $4,059,000 after buying an additional 366 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Quanta Services by 2.7% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 71,100 shares of the construction company’s stock worth $13,301,000 after purchasing an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the 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 sale, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was 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 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. 1.10% of the stock is owned by corporate insiders.

Quanta Services Stock Down 1.0 %

Shares of PWR stock opened at $256.01 on Thursday. The stock has a market cap of $37.47 billion, a P/E ratio of 51.10 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82. The stock has a 50 day moving average of $249.81 and a 200 day moving average of $213.59. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 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 quarterly revenue was up 31.0% on a year-over-year basis. During the same period last year, the firm earned $1.54 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were paid a dividend of $0.09 per share. The ex-dividend date 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 currently 7.19%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PWR shares. DA Davidson increased their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Truist Financial initiated coverage on shares of Quanta Services in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective on the stock. Citigroup increased their target price on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Stifel Nicolaus boosted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, TD Cowen increased their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average 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.