Kovack Advisors Inc. Acquires 86 Shares of Quanta Services, Inc. (NYSE:PWR)

Kovack Advisors Inc. raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 1.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,679 shares of the construction company’s stock after buying an additional 86 shares during the quarter. Kovack Advisors Inc.’s holdings in Quanta Services were worth $1,657,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PWR. FMR LLC raised its stake in Quanta Services by 1.1% during the third quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock valued at $791,171,000 after buying an additional 44,141 shares during the last quarter. Morgan Stanley raised its stake in shares of Quanta Services by 3.3% in the third quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock worth $288,086,000 after purchasing an additional 49,602 shares during the last quarter. Northern Trust Corp raised its stake in shares of Quanta Services by 3.9% in the third quarter. Northern Trust Corp now owns 1,452,347 shares of the construction company’s stock worth $271,691,000 after purchasing an additional 54,268 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Quanta Services by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,412,589 shares of the construction company’s stock worth $264,253,000 after purchasing an additional 40,233 shares during the last quarter. Finally, UBS Group AG grew its holdings in shares of Quanta Services by 0.5% in the third quarter. UBS Group AG now owns 947,689 shares of the construction company’s stock worth $177,284,000 after acquiring an additional 4,800 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling

In related news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated 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 transaction, the executive vice president now 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. Over the last quarter, insiders sold 47,125 shares of company stock worth $11,270,215. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PWR. Stifel Nicolaus increased their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Evercore ISI started coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective for the company. Truist Financial started coverage on Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. The Goldman Sachs Group raised their target price on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, TD Cowen raised their target price on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $247.67.

Quanta Services Price Performance

Shares of PWR stock traded up $6.47 during trading hours on Friday, hitting $261.66. The stock had a trading volume of 1,180,022 shares, compared to its average volume of 783,667. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $265.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The stock’s 50-day moving average price is $246.91 and its two-hundred day moving average price is $211.63. The stock has a market capitalization of $38.30 billion, a price-to-earnings ratio of 52.25 and a beta of 1.11.

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

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were issued a $0.09 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is 7.19%.

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.