Cetera Trust Company N.A Buys New Shares in Quanta Services, Inc. (NYSE:PWR)

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

A number of other hedge funds and other institutional investors have also modified their holdings of PWR. Nordea Investment Management AB increased its position in shares of Quanta Services by 8,297.7% in the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after acquiring an additional 901,548 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Quanta Services by 1,494.0% in the third quarter. Qube Research & Technologies Ltd now owns 304,126 shares of the construction company’s stock valued at $56,893,000 after acquiring an additional 285,047 shares during the last quarter. Scout Investments Inc. increased its position in shares of Quanta Services by 20.3% in the third quarter. Scout Investments Inc. now owns 921,186 shares of the construction company’s stock valued at $162,718,000 after acquiring an additional 155,586 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $31,730,000. Finally, Trust Point Inc. acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $28,072,000. Institutional investors and hedge funds 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 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 in the company, valued at $62,476,452.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other Quanta Services news, EVP Donald Wayne sold 8,842 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $242.27, for a total transaction of $2,142,151.34. Following the completion of the transaction, the executive vice president now directly owns 44,129 shares in the company, valued at $10,691,132.83. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PWR. TD Cowen boosted their price target on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group boosted their price target on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. KeyCorp began coverage on Quanta Services in a research report on Wednesday, January 10th. They set a “sector weight” rating on the stock. Evercore ISI began coverage on Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target on the stock. Finally, Citigroup boosted their price target on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average price target of $243.23.

Quanta Services Trading Up 0.9 %

Shares of NYSE:PWR opened at $245.54 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The stock has a market cap of $35.94 billion, a PE ratio of 49.01 and a beta of 1.11. The business has a 50 day moving average of $243.37 and a 200-day moving average of $209.86. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $265.82.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.46% 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 period in the previous year, the company posted $1.54 earnings per share. As a group, equities research analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.15%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is currently 7.19%.

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.