Cookson Peirce & Co. Inc. Reduces Stock Position in Quanta Services, Inc. (NYSE:PWR)

Cookson Peirce & Co. Inc. trimmed its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 413,463 shares of the construction company's stock after selling 15,098 shares during the quarter. Quanta Services comprises 5.4% of Cookson Peirce & Co. Inc.'s portfolio, making the stock its largest position. Cookson Peirce & Co. Inc. owned about 0.28% of Quanta Services worth $89,225,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Gradient Investments LLC grew its holdings in Quanta Services by 669,187.5% in the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company's stock valued at $11,555,000 after purchasing an additional 53,535 shares during the period. Saxon Interests Inc. purchased a new stake in Quanta Services during the fourth quarter worth approximately $1,352,000. Nordea Investment Management AB grew its stake in Quanta Services by 8,297.7% during the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company's stock worth $196,205,000 after buying an additional 901,548 shares during the period. Chicago Capital LLC purchased a new stake in Quanta Services during the fourth quarter worth approximately $6,834,000. Finally, Bleakley Financial Group LLC grew its stake in Quanta Services by 159.6% during the fourth quarter. Bleakley Financial Group LLC now owns 6,563 shares of the construction company's stock worth $1,416,000 after buying an additional 4,035 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Price Performance

NYSE PWR traded down $0.31 during trading on Tuesday, reaching $248.58. The company's stock had a trading volume of 756,290 shares, compared to its average volume of 922,038. The stock has a market capitalization of $36.23 billion, a PE ratio of 49.62 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The firm has a fifty day moving average of $240.53 and a 200 day moving average of $207.78. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $265.82.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the previous year, the company posted $1.54 earnings per share. The firm's revenue was up 31.0% on a year-over-year basis. Analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PWR. Citigroup upped their target price on shares of Quanta Services from $234.00 to $237.00 and gave the company a "buy" rating in a research note on Friday, January 26th. Stifel Nicolaus upped their target price 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. The Goldman Sachs Group upped their target price 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. Truist Financial initiated coverage on shares of Quanta Services in a report on Thursday, March 14th. They set a "buy" rating and a $301.00 target price on the stock. Finally, TD Cowen lifted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an "outperform" rating in a research report on Tuesday, February 27th. Three investment 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 company presently has an average rating of "Moderate Buy" and a consensus target price of $239.54.

Insider Buying and Selling at Quanta Services

In related news, Director Worthing Jackman sold 9,572 shares of the business's stock in a transaction dated 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 sale, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction on 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the business's stock in a transaction 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 transaction, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,125 shares of company stock valued at $11,270,215. Company insiders own 1.30% of the company's stock.

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.