Riverstone Advisors LLC Purchases Shares of 1,022 Quanta Services, Inc. (NYSE:PWR)

Riverstone Advisors LLC bought a new position in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,022 shares of the construction company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also modified their holdings of PWR. Vanguard Group Inc. grew its stake in shares of Quanta Services by 1.2% in the first quarter. Vanguard Group Inc. now owns 15,363,311 shares of the construction company’s stock valued at $2,021,965,000 after buying an additional 182,092 shares in the last quarter. State Street Corp increased its stake in Quanta Services by 0.4% during the first quarter. State Street Corp now owns 4,758,029 shares of the construction company’s stock valued at $626,204,000 after purchasing an additional 20,702 shares during the last quarter. FMR LLC raised its holdings in shares of Quanta Services by 1.1% during the third quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock worth $791,171,000 after purchasing an additional 44,141 shares during the period. Geode Capital Management LLC boosted its stake in Quanta Services by 1.8% in the first quarter. Geode Capital Management LLC now owns 3,025,017 shares of the construction company’s stock valued at $502,997,000 after acquiring an additional 53,317 shares during the period. Finally, Morgan Stanley grew its stake in Quanta Services by 22.4% during the 4th quarter. Morgan Stanley now owns 1,579,601 shares of the construction company’s stock worth $225,093,000 after buying an additional 288,876 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research reports. The Goldman Sachs Group boosted their target price on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Evercore ISI started coverage on Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target on the stock. TD Cowen upped their price target on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. DA Davidson lifted their price objective on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Finally, KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $239.54.

Quanta Services Stock Down 0.1 %

PWR traded down $0.24 during trading on Tuesday, reaching $248.65. The company had a trading volume of 368,986 shares, compared to its average volume of 916,250. The business’s fifty day moving average price is $239.68 and its 200 day moving average price is $207.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $265.82. The company has a market cap of $36.24 billion, a P/E ratio of 49.57 and a beta of 1.11.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. 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 EPS. Equities analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th will be paid a dividend of $0.09 per share. The ex-dividend date is 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 7.19%.

Insider Activity

In related news, EVP Derrick A. Jensen sold 18,500 shares of the 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 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction dated 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 sale, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 over the last ninety days. Insiders own 1.30% of the company’s stock.

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.