Cary Street Partners Investment Advisory LLC Purchases 248 Shares of Quanta Services, Inc. (NYSE:PWR)

Cary Street Partners Investment Advisory LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWRFree Report) by 30.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,058 shares of the construction company’s stock after buying an additional 248 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Quanta Services were worth $228,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its position in shares of Quanta Services by 6.2% in the 3rd quarter. Fifth Third Bancorp now owns 4,233 shares of the construction company’s stock valued at $792,000 after purchasing an additional 247 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Quanta Services by 2.5% during the third quarter. Teacher Retirement System of Texas now owns 11,248 shares of the construction company’s stock worth $2,104,000 after acquiring an additional 272 shares during the period. New Mexico Educational Retirement Board lifted its position in Quanta Services by 8.7% in the 3rd quarter. New Mexico Educational Retirement Board now owns 7,532 shares of the construction company’s stock valued at $1,409,000 after acquiring an additional 600 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Quanta Services by 9.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 43,253 shares of the construction company’s stock worth $8,091,000 after purchasing an additional 3,794 shares during the period. Finally, Banque Pictet & Cie SA increased its holdings in Quanta Services by 11.8% during the 3rd quarter. Banque Pictet & Cie SA now owns 10,900 shares of the construction company’s stock worth $2,039,000 after purchasing an additional 1,150 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

NYSE PWR opened at $270.79 on Thursday. The stock has a market cap of $39.64 billion, a PE ratio of 52.48 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The firm has a 50-day moving average of $255.12 and a 200-day moving average of $220.30. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $273.00.

Quanta Services (NYSE:PWRGet Free Report) last announced its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) 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 16.25%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the business posted $1.54 earnings per share. Quanta Services’s quarterly revenue was up 31.0% on a year-over-year basis. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.68 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors 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 0.13%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Analyst Ratings Changes

PWR has been the subject of several recent research reports. Stifel Nicolaus upped their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. DA Davidson lifted their price target on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. TD Cowen increased their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their target price on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, B. Riley increased their price target on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.00.

Read Our Latest Stock Analysis on PWR

Insider Activity

In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly 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 at the SEC website. In other news, EVP Donald Wayne sold 1,101 shares of the firm’s 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 completion of the sale, 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 SEC, which is accessible through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the business’s 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 in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is currently owned by corporate insiders.

About Quanta Services

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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