Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Ninepoint Partners LP

Ninepoint Partners LP increased its stake in Quanta Services, Inc. (NYSE:PWR) by 53.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,031 shares of the construction company’s stock after purchasing an additional 3,490 shares during the quarter. Quanta Services comprises about 0.2% of Ninepoint Partners LP’s portfolio, making the stock its 14th biggest holding. Ninepoint Partners LP’s holdings in Quanta Services were worth $2,165,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. ICA Group Wealth Management LLC bought a new stake in Quanta Services in the fourth quarter worth about $26,000. Coppell Advisory Solutions Corp. bought a new stake in Quanta Services in the fourth quarter worth about $28,000. Grove Bank & Trust raised its position in Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after acquiring an additional 68 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Quanta Services by 1,730.0% in the third quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock worth $34,000 after acquiring an additional 173 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PWR shares. DA Davidson boosted their price target on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Truist Financial initiated coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. TD Cowen boosted their price objective on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Stifel Nicolaus boosted their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, KeyCorp initiated coverage on Quanta Services in a report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $239.54.

Quanta Services Stock Down 0.2 %

Shares of PWR traded down $0.42 during trading hours on Friday, reaching $245.26. The company’s stock had a trading volume of 417,819 shares, compared to its average volume of 917,607. The firm has a market cap of $35.90 billion, a price-to-earnings ratio of 49.04 and a beta of 1.11. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $242.03 and a two-hundred day moving average of $208.31.

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 company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 EPS. As a group, research analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors 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 0.15%. Quanta Services’s payout ratio is 7.19%.

Insider Activity at Quanta Services

In related 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 value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Worthing Jackman sold 9,572 shares of the business’s 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 of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. In the last quarter, insiders sold 47,125 shares of company stock valued at $11,270,215. 1.20% of the stock is owned by corporate insiders.

Quanta Services Company 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.