Norris Perne & French LLP MI Purchases 14,917 Shares of Quanta Services, Inc. (NYSE:PWR)

Norris Perne & French LLP MI raised its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,937 shares of the construction company's stock after purchasing an additional 14,917 shares during the quarter. Quanta Services accounts for approximately 2.6% of Norris Perne & French LLP MI's holdings, making the stock its 7th biggest holding. Norris Perne & French LLP MI owned approximately 0.11% of Quanta Services worth $33,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PWR. Gradient Investments LLC grew its stake in Quanta Services by 669,187.5% in the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company's stock worth $11,555,000 after acquiring an additional 53,535 shares in the last quarter. Saxon Interests Inc. bought a new position in Quanta Services in the 4th quarter worth about $1,352,000. Nordea Investment Management AB grew its stake in Quanta Services by 8,297.7% in the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company's stock worth $196,205,000 after acquiring an additional 901,548 shares in the last quarter. Marion Wealth Management bought a new position in Quanta Services in the 4th quarter worth about $1,233,000. Finally, Advisor Resource Council grew its stake in Quanta Services by 261.4% in the 4th quarter. Advisor Resource Council now owns 7,604 shares of the construction company's stock worth $1,641,000 after acquiring an additional 5,500 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Truist Financial assumed coverage on shares of Quanta Services in a research note on Thursday, March 14th. They issued a "buy" rating and a $301.00 target price on the stock. Stifel Nicolaus increased their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the company a "buy" rating in a research note on Friday, February 23rd. TD Cowen increased their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an "outperform" rating in a research note on Tuesday, February 27th. The Goldman Sachs Group increased their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a "buy" rating in a research note on Monday, February 26th. Finally, KeyCorp started coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They set a "sector weight" rating on the stock. Three investment 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 company currently has an average rating of "Moderate Buy" and a consensus price target of $239.54.

Insider Buying and Selling

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services 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 transaction, the executive vice president now directly owns 40,065 shares of the company's stock, valued at $10,494,626.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services 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 transaction, the executive vice president now directly owns 40,065 shares of the company's stock, valued at $10,494,626.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated 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 transaction, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,125 shares of company stock worth $11,270,215. 1.30% of the stock is owned by insiders.

Quanta Services Stock Performance

Shares of NYSE PWR traded down $3.16 during midday trading on Tuesday, reaching $256.10. The company had a trading volume of 855,695 shares, compared to its average volume of 947,855. The business's 50-day simple moving average is $228.97 and its 200 day simple moving average is $203.10. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $262.01. The stock has a market cap of $37.33 billion, a P/E ratio of 51.12 and a beta of 1.11. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR - Get Free Report) last announced its 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 for the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The company's revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter last year, the business earned $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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services's payout ratio is presently 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.