Cetera Trust Company N.A Purchases Shares of 266 Quanta Services, Inc. (NYSE:PWR)

Cetera Trust Company N.A purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 266 shares of the construction company’s stock, valued at approximately $57,000.

A number of other hedge funds have also added to or reduced their stakes in PWR. Nordea Investment Management AB boosted its stake in Quanta Services by 8,297.7% during the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after purchasing an additional 901,548 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Quanta Services by 1,494.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 304,126 shares of the construction company’s stock valued at $56,893,000 after purchasing an additional 285,047 shares during the last quarter. Scout Investments Inc. boosted its stake in Quanta Services by 20.3% during the 3rd quarter. Scout Investments Inc. now owns 921,186 shares of the construction company’s stock valued at $162,718,000 after purchasing an additional 155,586 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Quanta Services during the 4th quarter valued at about $31,730,000. Finally, Trust Point Inc. bought a new position in shares of Quanta Services during the 4th quarter worth approximately $28,072,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Activity

In other news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction 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 directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Margaret B. Shannon sold 8,515 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the completion of the transaction, the director now directly owns 34,063 shares in the company, valued at approximately $8,172,394.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Wayne sold 1,101 shares of the company’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 of the company’s stock, valued at $10,494,626.10. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock worth $11,270,215 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PWR. Truist Financial began coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. The Goldman Sachs Group lifted their target price 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 target price on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday. Stifel Nicolaus lifted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Finally, TD Cowen lifted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.23.

Quanta Services Trading Up 0.9 %

Shares of PWR stock opened at $245.54 on Tuesday. The company’s fifty day simple moving average is $243.37 and its two-hundred day simple moving average is $209.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82. The stock has a market capitalization of $35.94 billion, a price-to-earnings ratio of 49.01 and a beta of 1.11.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. As a group, analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share 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 was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.15%. Quanta Services’s payout ratio is 7.19%.

Quanta Services Company 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.