Sequoia Financial Advisors LLC Acquires Shares of 1,616 Quanta Services, Inc. (NYSE:PWR)

Sequoia Financial Advisors LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,616 shares of the construction company’s stock, valued at approximately $349,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PWR. Turtle Creek Wealth Advisors LLC purchased a new stake in Quanta Services during the 4th quarter worth about $69,000. Garrison Bradford & Associates Inc. lifted its stake in Quanta Services by 10.0% during the fourth quarter. Garrison Bradford & Associates Inc. now owns 17,563 shares of the construction company’s stock worth $3,790,000 after purchasing an additional 1,601 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Quanta Services by 28,538.4% during the fourth quarter. International Assets Investment Management LLC now owns 91,070 shares of the construction company’s stock worth $19,653,000 after purchasing an additional 90,752 shares during the last quarter. Valley National Advisers Inc. acquired a new position in Quanta Services in the fourth quarter valued at approximately $41,000. Finally, Bleakley Financial Group LLC increased its stake in Quanta Services by 159.6% in the fourth quarter. Bleakley Financial Group LLC now owns 6,563 shares of the construction company’s stock valued at $1,416,000 after purchasing an additional 4,035 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Down 0.1 %

PWR opened at $245.68 on Friday. The business has a 50 day moving average price of $242.03 and a two-hundred day moving average price of $208.31. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $265.82. The company has a market cap of $35.96 billion, a PE ratio of 49.04 and a beta of 1.11. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the business earned $1.54 earnings per share. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. As a group, research analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were paid 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 dividend yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is 7.19%.

Insider Transactions at Quanta Services

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred 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 sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Worthing Jackman sold 9,572 shares of the company’s 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 transaction, 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 ninety days. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PWR. Stifel Nicolaus upped their target price on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. The Goldman Sachs Group upped 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. Truist Financial started coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective on the stock. TD Cowen boosted their target price on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Finally, Citigroup raised their price target on Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $239.54.

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.