Quanta Services, Inc. (NYSE:PWR) Holdings Raised by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 10.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 431,118 shares of the construction company’s stock after acquiring an additional 41,728 shares during the period. Victory Capital Management Inc. owned 0.30% of Quanta Services worth $93,035,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PWR. Truist Financial Corp increased its stake in shares of Quanta Services by 2.2% during the 4th quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock worth $93,400,000 after purchasing an additional 9,421 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its position in shares of Quanta Services by 24.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock worth $356,000 after buying an additional 325 shares during the last quarter. Gradient Investments LLC boosted its stake in shares of Quanta Services by 669,187.5% during the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after acquiring an additional 53,535 shares in the last quarter. Saxon Interests Inc. acquired a new position in shares of Quanta Services during the 4th quarter valued at about $1,352,000. Finally, Nordea Investment Management AB lifted its holdings in Quanta Services by 8,297.7% in the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after purchasing an additional 901,548 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services 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 completion of the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was 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 directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services 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 transaction, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. 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 quarter. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on PWR shares. Robert W. Baird lifted their price target on shares of Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday. TD Cowen boosted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Citigroup lifted their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Truist Financial began coverage on Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. Finally, The Goldman Sachs Group lifted their price target on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.85.

Quanta Services Trading Up 0.5 %

Shares of PWR stock opened at $256.33 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.44 and a current ratio of 1.36. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $265.82. The company has a market cap of $37.52 billion, a PE ratio of 49.68 and a beta of 1.10. The stock’s fifty day moving average price is $250.69 and its two-hundred day moving average price is $214.43.

Quanta Services (NYSE:PWR) last announced its quarterly 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. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.54 earnings per share. Equities analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is currently 6.98%.

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.