Gradient Investments LLC Boosts Holdings in Quanta Services, Inc. (NYSE:PWR)

Gradient Investments LLC raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 669,187.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,543 shares of the construction company's stock after purchasing an additional 53,535 shares during the period. Gradient Investments LLC's holdings in Quanta Services were worth $11,555,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PWR. Panagora Asset Management Inc. raised its holdings in shares of Quanta Services by 79.1% during the first quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company's stock valued at $1,509,000 after buying an additional 5,063 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Quanta Services by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,067 shares of the construction company's stock worth $2,509,000 after purchasing an additional 1,181 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Quanta Services by 2.6% during the first quarter. Great West Life Assurance Co. Can now owns 26,648 shares of the construction company's stock valued at $3,655,000 after purchasing an additional 668 shares during the period. Raymond James Trust N.A. lifted its holdings in Quanta Services by 8.3% in the first quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company's stock worth $652,000 after purchasing an additional 379 shares during the period. Finally, Blair William & Co. IL grew its position in Quanta Services by 21.7% in the 1st quarter. Blair William & Co. IL now owns 16,156 shares of the construction company's stock valued at $2,126,000 after buying an additional 2,884 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Worthing Jackman sold 9,572 shares of the business's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction that occurred 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 sale, the executive vice president now directly owns 40,065 shares of the company's stock, valued at $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. Also, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the transaction, the director now directly owns 7,486 shares of the company's stock, valued at $1,776,502.66. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock valued at $11,270,215 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

Quanta Services Stock Up 0.0 %

Shares of NYSE PWR traded up $0.05 during mid-day trading on Friday, reaching $259.80. The company had a trading volume of 745,698 shares, compared to its average volume of 844,423. The company has a market capitalization of $37.87 billion, a price-to-earnings ratio of 51.86 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The stock has a fifty day moving average of $226.64 and a two-hundred day moving average of $202.30. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $262.01.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS 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 business had revenue of $5.78 billion for the quarter, compared to analysts' expectations of $5.19 billion. During the same period in the previous year, the company posted $1.54 EPS. Quanta Services's revenue was up 31.0% on a year-over-year basis. As a group, equities research analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date is Monday, April 8th. Quanta Services's payout ratio is 7.19%.

Analyst Ratings Changes

PWR has been the topic of a number of research analyst reports. Evercore ISI initiated coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They set an "outperform" rating and a $237.00 price objective on the stock. KeyCorp initiated coverage on Quanta Services in a research note on Wednesday, January 10th. They issued a "sector weight" rating on the stock. Truist Financial assumed coverage on Quanta Services in a research note on Thursday, March 14th. They set a "buy" rating and a $301.00 target price for the company. DA Davidson upped their price target on shares of Quanta Services from $190.00 to $225.00 and gave the company a "neutral" rating in a report on Wednesday, February 28th. Finally, TD Cowen lifted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $239.54.

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.