Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,316 shares of the construction company’s stock after purchasing an additional 133 shares during the period. Kingsview Wealth Management LLC’s holdings in Quanta Services were worth $1,579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PWR. Hazlett Burt & Watson Inc. grew its position in 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. Checchi Capital Advisers LLC increased its stake in Quanta Services by 4.6% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock valued at $295,000 after purchasing an additional 60 shares in the last quarter. Central Bank & Trust Co. raised its holdings in Quanta Services by 2.1% during the fourth quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock worth $700,000 after purchasing an additional 66 shares during the last quarter. Czech National Bank boosted its position in Quanta Services by 0.3% during the fourth quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock worth $5,491,000 after purchasing an additional 67 shares in the last quarter. Finally, Evergreen Wealth Solutions LLC grew its holdings in Quanta Services by 2.9% in the fourth quarter. Evergreen Wealth Solutions LLC now owns 2,340 shares of the construction company’s stock valued at $505,000 after purchasing an additional 67 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the business’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 transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $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 over the last ninety days. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PWR has been the topic of several recent research reports. The Goldman Sachs Group boosted their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Citigroup lifted their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Truist Financial reissued a “buy” rating and set a $305.00 price target (up previously from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. TD Cowen upped their price objective on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Finally, Evercore ISI lifted their price objective on Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 7th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $262.00.

Quanta Services Trading Up 0.2 %

NYSE:PWR traded up $0.58 during trading hours on Friday, reaching $264.40. 795,648 shares of the company were exchanged, compared to its average volume of 989,166. The firm has a market cap of $38.71 billion, a price-to-earnings ratio of 51.24 and a beta of 1.10. The stock has a 50 day simple moving average of $255.96 and a 200 day simple moving average of $221.29. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $273.00. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The firm 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 firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.54 earnings per share. As a group, analysts predict that Quanta Services, Inc. will post 7.68 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

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.