Cookson Peirce & Co. Inc. Lowers Stake in Quanta Services, Inc. (NYSE:PWR)

Cookson Peirce & Co. Inc. decreased its position in Quanta Services, Inc. (NYSE:PWR) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 413,463 shares of the construction company’s stock after selling 15,098 shares during the quarter. Quanta Services makes up 5.4% of Cookson Peirce & Co. Inc.’s portfolio, making the stock its biggest holding. Cookson Peirce & Co. Inc.’s holdings in Quanta Services were worth $89,225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Gradient Investments LLC grew its position in shares of Quanta Services by 669,187.5% during the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after purchasing an additional 53,535 shares in the last quarter. Saxon Interests Inc. purchased a new position in Quanta Services during the 4th quarter valued at approximately $1,352,000. Nordea Investment Management AB grew its holdings in Quanta Services by 8,297.7% during the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after buying an additional 901,548 shares in the last quarter. Chicago Capital LLC purchased a new position in Quanta Services during the 4th quarter valued at approximately $6,834,000. Finally, Bleakley Financial Group LLC grew its holdings in Quanta Services by 159.6% during the 4th quarter. Bleakley Financial Group LLC now owns 6,563 shares of the construction company’s stock valued at $1,416,000 after buying an additional 4,035 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity

In other news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction 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 transaction, 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. In the last three months, insiders have sold 47,125 shares of company stock worth $11,270,215. 1.30% of the stock is currently owned by company insiders.

Quanta Services Stock Down 0.2 %

NYSE PWR traded down $0.48 on Tuesday, reaching $248.41. 408,309 shares of the stock traded hands, compared to its average volume of 917,048. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company has a fifty day moving average price of $239.68 and a 200-day moving average price of $207.35. The company has a market cap of $36.21 billion, a price-to-earnings ratio of 49.57 and a beta of 1.11. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $265.82.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. Quanta Services’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 EPS. As a group, research analysts forecast that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend is Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

Analyst Ratings Changes

Several equities analysts have weighed in on PWR shares. Truist Financial started coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target for the company. Stifel Nicolaus raised their price target on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. DA Davidson raised their price objective on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. TD Cowen raised their price objective on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, The Goldman Sachs Group raised their price objective on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.54.

Quanta Services 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.