Avantax Advisory Services Inc. Acquires 260 Shares of Quanta Services, Inc. (NYSE:PWR)

Avantax Advisory Services Inc. lifted its position in Quanta Services, Inc. (NYSE:PWRFree Report) by 5.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,282 shares of the construction company’s stock after purchasing an additional 260 shares during the period. Avantax Advisory Services Inc.’s holdings in Quanta Services were worth $1,140,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Checchi Capital Advisers LLC lifted its holdings in shares of Quanta Services by 4.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock valued at $295,000 after purchasing an additional 60 shares during the last quarter. QRG Capital Management Inc. lifted its position in Quanta Services by 8.3% during the fourth quarter. QRG Capital Management Inc. now owns 8,401 shares of the construction company’s stock valued at $1,813,000 after purchasing an additional 642 shares during the period. Jump Financial LLC boosted its stake in shares of Quanta Services by 15.0% in the 4th quarter. Jump Financial LLC now owns 21,253 shares of the construction company’s stock worth $4,586,000 after buying an additional 2,771 shares during the last quarter. Johnson Investment Counsel Inc. lifted its holdings in Quanta Services by 9.0% in the fourth quarter. Johnson Investment Counsel Inc. now owns 1,259 shares of the construction company’s stock valued at $272,000 after acquiring an additional 104 shares during the period. Finally, Evergreen Wealth Solutions LLC boosted its position in Quanta Services by 2.9% in the fourth quarter. Evergreen Wealth Solutions LLC now owns 2,340 shares of the construction company’s stock worth $505,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PWR. Stifel Nicolaus boosted their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Citigroup raised 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. Robert W. Baird raised their target price on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. The Goldman Sachs Group upped 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. Finally, Truist Financial restated a “buy” rating and set a $305.00 target price (up previously from $301.00) on shares of Quanta Services in a research note on Monday, May 6th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.00.

Read Our Latest Stock Analysis on PWR

Insiders Place Their Bets

In related news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the sale, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock valued at $11,270,215 over the last three months. 1.10% of the stock is owned by company insiders.

Quanta Services Stock Up 0.2 %

Shares of PWR opened at $264.40 on Friday. The business’s 50 day simple moving average is $255.96 and its 200-day simple moving average is $221.67. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $273.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The stock has a market capitalization of $38.71 billion, a price-to-earnings ratio of 51.24 and a beta of 1.10.

Quanta Services (NYSE:PWRGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business’s revenue was up 31.0% on a year-over-year basis. During the same period last year, the company posted $1.54 EPS. As a group, equities analysts expect that Quanta Services, Inc. will post 7.68 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

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

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.

Further Reading

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

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