Fielder Capital Group LLC Purchases New Stake in Quanta Services, Inc. (NYSE:PWR)

Fielder Capital Group LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,746 shares of the construction company’s stock, valued at approximately $377,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Quanta Services by 86.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 30,646 shares of the construction company’s stock valued at $5,733,000 after purchasing an additional 14,241 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its position in shares of Quanta Services by 2.7% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 71,100 shares of the construction company’s stock worth $13,301,000 after acquiring an additional 1,900 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Quanta Services by 0.6% in the 3rd quarter. Brown Advisory Inc. now owns 42,844 shares of the construction company’s stock worth $8,015,000 after acquiring an additional 265 shares during the period. Everhart Financial Group Inc. lifted its position in Quanta Services by 6.1% in the 3rd quarter. Everhart Financial Group Inc. now owns 2,797 shares of the construction company’s stock valued at $523,000 after purchasing an additional 161 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Quanta Services by 12.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,884 shares of the construction company’s stock worth $10,080,000 after purchasing an additional 5,984 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the transaction, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 transaction, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were 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 directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. 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 three months. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Down 1.0 %

PWR traded down $2.62 on Tuesday, reaching $266.88. 1,108,470 shares of the company traded hands, compared to its average volume of 941,817. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $271.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The company has a market cap of $39.07 billion, a price-to-earnings ratio of 52.19 and a beta of 1.10. The stock’s 50 day moving average price is $251.36 and its 200-day moving average price is $215.69.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the company posted $1.54 earnings per share. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. On average, sell-side analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current fiscal 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 given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.13%. The ex-dividend date was Monday, April 8th. Quanta Services’s payout ratio is 6.98%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PWR. Evercore ISI raised their price target on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday. Stifel Nicolaus increased their price target on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Citigroup raised their target price on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Truist Financial restated a “buy” rating and set a $305.00 price objective (up previously from $301.00) on shares of Quanta Services in a research report on Monday. Finally, The Goldman Sachs Group raised their target price on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $262.00.

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.