Bourgeon Capital Management LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 18,930 shares of the construction company's stock, valued at approximately $4,085,000.
A number of other institutional investors also recently modified their holdings of PWR. Norges Bank purchased a new position in Quanta Services during the fourth quarter worth about $180,853,000. Nordea Investment Management AB boosted its stake in Quanta Services by 8,297.7% in the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company's stock valued at $196,205,000 after acquiring an additional 901,548 shares during the last quarter. Royal Bank of Canada boosted its stake in Quanta Services by 52.2% in the first quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company's stock valued at $196,405,000 after acquiring an additional 511,508 shares during the last quarter. Deutsche Bank AG boosted its stake in Quanta Services by 113.7% in the first quarter. Deutsche Bank AG now owns 643,054 shares of the construction company's stock valued at $107,159,000 after acquiring an additional 342,100 shares during the last quarter. Finally, CI Private Wealth LLC bought a new stake in shares of Quanta Services in the fourth quarter valued at approximately $42,168,000. 90.49% of the stock is owned by institutional investors and hedge funds.
Quanta Services Stock Performance
Shares of NYSE PWR traded down $5.80 during trading on Monday, reaching $248.89. 765,221 shares of the company traded hands, compared to its average volume of 924,368. The firm has a 50 day simple moving average of $239.68 and a 200-day simple moving average of $207.35. 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 stock has a market capitalization of $36.28 billion, a PE ratio of 49.68 and a beta of 1.11. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $265.82.
Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $5.78 billion for the quarter, compared to analysts' expectations 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 posted $1.54 earnings per share. Equities research analysts anticipate 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. Investors of record on Tuesday, April 9th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date is Monday, April 8th. Quanta Services's dividend payout ratio is presently 7.19%.
Analysts Set New Price Targets
Several research firms have recently issued reports on PWR. Stifel Nicolaus boosted 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. 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 price objective for the company. Evercore ISI assumed coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They issued an "outperform" rating and a $237.00 price objective for the company. KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a "sector weight" rating for the company. Finally, DA Davidson upped their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $239.54.
Read Our Latest Stock Report on PWR
Insiders Place Their Bets
In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 263,725 shares of the company's stock, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Derrick A. Jensen sold 18,500 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now owns 263,725 shares of the company's stock, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.30% of the stock is owned by corporate insiders.
Quanta Services Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Quanta Services, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Quanta Services wasn't on the list.
While Quanta Services currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
