Quanta Services, Inc. (NYSE:PWR) Holdings Boosted by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. boosted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,026 shares of the construction company’s stock after purchasing an additional 5,293 shares during the period. Quanta Services makes up 2.3% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 10th biggest holding. Adell Harriman & Carpenter Inc.’s holdings in Quanta Services were worth $25,254,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Grove Bank & Trust boosted its position in shares of Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after purchasing an additional 68 shares during the period. Hazlett Burt & Watson Inc. boosted its position in shares of Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after buying an additional 52 shares during the period. Valley National Advisers Inc. acquired a new stake in shares of Quanta Services in the fourth quarter valued at $41,000. NBC Securities Inc. acquired a new position in Quanta Services during the 3rd quarter worth about $36,000. Finally, Planned Solutions Inc. purchased a new stake in Quanta Services during the 4th quarter worth approximately $43,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Price Performance

Shares of NYSE PWR traded up $0.68 during midday trading on Monday, hitting $262.34. The company had a trading volume of 884,527 shares, compared to its average volume of 923,464. 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 business has a 50-day simple moving average of $246.91 and a two-hundred day simple moving average of $212.10. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82. The firm has a market capitalization of $38.40 billion, a price-to-earnings ratio of 52.23 and a beta of 1.11.

Quanta Services (NYSE:PWR) last posted its earnings results 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 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%. Quanta Services’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 earnings per share. Equities research analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders 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 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is presently 7.19%.

Wall Street Analysts Forecast Growth

PWR has been the subject of several analyst reports. TD Cowen boosted their target price on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. KeyCorp began coverage on shares of Quanta Services in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. Evercore ISI initiated coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective for the company. Truist Financial started coverage on Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Finally, Citigroup increased their price objective on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $247.67.

Insider Buying and Selling

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

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.