Legacy Capital Wealth Partners LLC Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Legacy Capital Wealth Partners LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,257 shares of the construction company’s stock, valued at approximately $271,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PWR. Grove Bank & Trust boosted its stake in Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after purchasing an additional 68 shares during the last quarter. 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 valued at $34,000 after buying an additional 52 shares during the last quarter. NBC Securities Inc. bought a new stake in Quanta Services during the third quarter worth $36,000. Valley National Advisers Inc. purchased a new stake in Quanta Services in the 4th quarter valued at $41,000. Finally, Planned Solutions Inc. bought a new position in Quanta Services during the 4th quarter valued at $43,000. 90.49% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock worth $11,270,215 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup increased their target price on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. The Goldman Sachs Group increased their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Evercore ISI started coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. Truist Financial started coverage on Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target for the company. Finally, DA Davidson boosted their price objective on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $247.67.

Quanta Services Stock Up 0.3 %

Shares of NYSE PWR opened at $262.33 on Tuesday. 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 has a market capitalization of $38.40 billion, a PE ratio of 52.36 and a beta of 1.11. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $265.82. The business’s fifty day moving average price is $247.93 and its 200-day moving average price is $212.69.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate 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 was up 31.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 earnings per share. On average, equities research analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

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

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.