Spire Wealth Management Increases Stake in Quanta Services, Inc. (NYSE:PWR)

Spire Wealth Management raised its position in shares of Quanta Services, Inc. (NYSE:PWR) by 32.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,339 shares of the construction company’s stock after buying an additional 8,485 shares during the period. Spire Wealth Management’s holdings in Quanta Services were worth $6,952,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. National Bank of Canada FI boosted its position in Quanta Services by 59.2% during the 4th quarter. National Bank of Canada FI now owns 81,850 shares of the construction company’s stock valued at $17,124,000 after buying an additional 30,433 shares during the period. Forte Capital LLC ADV bought a new stake in shares of Quanta Services during the 4th quarter valued at about $1,110,000. Benjamin F. Edwards & Company Inc. bought a new position in Quanta Services in the fourth quarter worth about $217,000. Aveo Capital Partners LLC lifted its holdings in Quanta Services by 11.0% in the fourth quarter. Aveo Capital Partners LLC now owns 1,313 shares of the construction company’s stock worth $283,000 after buying an additional 130 shares during the period. Finally, LGT Group Foundation purchased a new stake in Quanta Services in the fourth quarter worth about $513,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction 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 $62,476,452.50. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock worth $11,270,215 in the last quarter. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on PWR. Robert W. Baird raised their price objective on shares of Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial reiterated a “buy” rating and issued a $305.00 price objective (up previously from $301.00) on shares of Quanta Services in a report on Monday. Stifel Nicolaus increased 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. TD Cowen increased 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. Finally, KeyCorp started coverage on Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average price target of $256.15.

Quanta Services Stock Performance

NYSE:PWR traded up $13.17 on Monday, hitting $269.50. The stock had a trading volume of 1,381,617 shares, compared to its average volume of 939,897. The stock has a market cap of $39.45 billion, a price-to-earnings ratio of 49.68 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The business’s 50-day simple moving average is $250.69 and its two-hundred day simple moving average is $214.98. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $270.42.

Quanta Services (NYSE:PWR) last announced 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. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period last year, the firm posted $1.54 earnings per share. As a group, research analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s payout ratio is currently 6.98%.

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.