Ceredex Value Advisors LLC Takes $31.73 Million Position in Quanta Services, Inc. (NYSE:PWR)

Ceredex Value Advisors LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 146,975 shares of the construction company's stock, valued at approximately $31,730,000. Ceredex Value Advisors LLC owned about 0.10% of Quanta Services at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust raised 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 purchasing an additional 68 shares during the last quarter. Perkins Coie Trust Co purchased a new position in shares of Quanta Services during the third quarter worth $30,000. VisionPoint Advisory Group LLC purchased a new position in shares of Quanta Services during the second quarter worth $33,000. ICA Group Wealth Management LLC purchased a new position in shares of Quanta Services during the fourth quarter worth $26,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Quanta Services by 1,730.0% during the third quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company's stock worth $34,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Price Performance

Shares of NYSE PWR traded up $4.91 during trading on Friday, hitting $263.20. The company had a trading volume of 639,193 shares, compared to its average volume of 758,245. The stock has a fifty day simple moving average of $232.89 and a two-hundred day simple moving average of $204.47. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $38.36 billion, a price-to-earnings ratio of 52.54 and a beta of 1.11. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $265.82.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results 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 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 16.46%. The company's revenue for the quarter was up 31.0% on a year-over-year basis. During the same period last year, the firm posted $1.54 earnings per share. On average, research analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

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

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 1,101 shares of the firm's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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, Director Margaret B. Shannon sold 8,515 shares of Quanta Services stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the transaction, the director now directly owns 34,063 shares in the company, valued at $8,172,394.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,125 shares of company stock valued at $11,270,215. Corporate insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

PWR has been the topic of several analyst reports. Stifel Nicolaus raised their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a "buy" rating in a research report on Friday, February 23rd. Citigroup raised their price target on shares of Quanta Services from $234.00 to $237.00 and gave the company a "buy" rating in a research report on Friday, January 26th. Truist Financial initiated coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a "buy" rating and a $301.00 price target on the stock. DA Davidson raised their price target on shares of Quanta Services from $190.00 to $225.00 and gave the company a "neutral" rating in a research report on Wednesday, February 28th. Finally, Evercore ISI initiated coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an "outperform" rating and a $237.00 price target on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.