Mackenzie Financial Corp Buys 669 Shares of Quanta Services, Inc. (NYSE:PWR)

Mackenzie Financial Corp lifted its position in Quanta Services, Inc. (NYSE:PWR) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,169 shares of the construction company’s stock after purchasing an additional 669 shares during the quarter. Mackenzie Financial Corp’s holdings in Quanta Services were worth $2,626,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Quanta Services by 1.1% during the 3rd quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock worth $791,171,000 after acquiring an additional 44,141 shares in the last quarter. Morgan Stanley raised its stake in Quanta Services by 3.3% during the third quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock valued at $288,086,000 after purchasing an additional 49,602 shares in the last quarter. Northern Trust Corp lifted its position in Quanta Services by 3.9% during the third quarter. Northern Trust Corp now owns 1,452,347 shares of the construction company’s stock valued at $271,691,000 after purchasing an additional 54,268 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Quanta Services by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,412,589 shares of the construction company’s stock worth $264,253,000 after buying an additional 40,233 shares in the last quarter. Finally, UBS Group AG raised its position in shares of Quanta Services by 0.5% during the 3rd quarter. UBS Group AG now owns 947,689 shares of the construction company’s stock valued at $177,284,000 after buying an additional 4,800 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated 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 directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Donald Wayne sold 595 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of the transaction, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were 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 directly 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 47,125 shares of company stock worth $11,270,215 over the last three months. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PWR. TD Cowen lifted 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. Truist Financial started coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price target on the stock. DA Davidson lifted their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Evercore ISI began coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. Finally, Stifel Nicolaus lifted their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average target price of $243.23.

Quanta Services Trading Up 0.9 %

Shares of PWR opened at $245.54 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The firm has a market capitalization of $35.94 billion, a price-to-earnings ratio of 49.01 and a beta of 1.11. The company has a 50-day moving average of $243.37 and a 200 day moving average of $209.86. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the firm posted $1.54 earnings per share. The company’s revenue was up 31.0% on a year-over-year basis. On average, research analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

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 annualized dividend and a dividend yield of 0.15%. Quanta Services’s dividend payout ratio 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.