Quanta Services, Inc. (NYSE:PWR) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 18.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,464 shares of the construction company’s stock after acquiring an additional 10,071 shares during the quarter. Russell Investments Group Ltd.’s holdings in Quanta Services were worth $13,714,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Terril Brothers Inc. acquired a new stake in Quanta Services during the 4th quarter worth about $201,000. Cercano Management LLC raised its holdings in Quanta Services by 97.9% during the 4th quarter. Cercano Management LLC now owns 184,911 shares of the construction company’s stock worth $39,904,000 after buying an additional 91,474 shares during the period. Citizens Financial Group Inc. RI acquired a new stake in Quanta Services during the 4th quarter worth about $215,000. Truist Financial Corp raised its holdings in Quanta Services by 2.2% during the 4th quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock worth $93,400,000 after buying an additional 9,421 shares during the period. Finally, Kovack Advisors Inc. raised its holdings in Quanta Services by 1.1% during the 4th quarter. Kovack Advisors Inc. now owns 7,679 shares of the construction company’s stock worth $1,657,000 after buying an additional 86 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, 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 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PWR. B. Riley boosted their price objective on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a report on Friday. Evercore ISI assumed coverage on shares of Quanta Services in a report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target for the company. KeyCorp assumed coverage on shares of Quanta Services in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. The Goldman Sachs Group boosted their price target on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Truist Financial started coverage on shares of Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $255.85.

Quanta Services Trading Up 0.5 %

Quanta Services stock opened at $256.33 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.44. The company has a market capitalization of $37.52 billion, a price-to-earnings ratio of 49.68 and a beta of 1.10. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $265.82. The company’s fifty day moving average price is $250.69 and its two-hundred day moving average price is $214.68.

Quanta Services (NYSE:PWR) last posted its 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. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. On average, analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared 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. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

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.