First Trust Direct Indexing L.P. Acquires 344 Shares of Quanta Services, Inc. (NYSE:PWR)

First Trust Direct Indexing L.P. grew its stake in Quanta Services, Inc. (NYSE:PWR) by 17.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,368 shares of the construction company’s stock after buying an additional 344 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Quanta Services were worth $511,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Grove Bank & Trust grew its holdings in shares of Quanta Services by 75.6% during the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after buying an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. increased 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 last quarter. NBC Securities Inc. acquired a new stake in shares of Quanta Services in the third quarter valued at approximately $36,000. Valley National Advisers Inc. bought a new stake in Quanta Services in the 4th quarter valued at $41,000. Finally, Planned Solutions Inc. acquired a new stake in Quanta Services during the 4th quarter valued at $43,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total transaction of $142,567.95. Following the sale, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at $10,052,597.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the completion of the transaction, the executive vice president now directly 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 SEC, which can be accessed through the SEC website. Also, EVP Donald Wayne sold 595 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of the sale, the executive vice president now owns 41,954 shares in the company, valued at approximately $10,052,597.94. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 in the last 90 days. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

NYSE PWR opened at $256.33 on Monday. The firm’s 50 day simple moving average is $250.69 and its 200 day simple moving average is $214.98. The firm has a market capitalization of $37.52 billion, a price-to-earnings ratio of 49.68 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. Quanta Services’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.54 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PWR. Evercore ISI initiated coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective on the stock. Citigroup boosted their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. B. Riley increased their target price on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research note on Friday. TD Cowen boosted their price target on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus increased their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $255.85.

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.