Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Ninepoint Partners LP

Ninepoint Partners LP lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 53.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,031 shares of the construction company's stock after purchasing an additional 3,490 shares during the quarter. Quanta Services accounts for approximately 0.2% of Ninepoint Partners LP's portfolio, making the stock its 14th largest position. Ninepoint Partners LP's holdings in Quanta Services were worth $2,165,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PWR. Hazlett Burt & Watson Inc. boosted its stake in Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company's stock worth $34,000 after buying an additional 52 shares in the last quarter. Central Bank & Trust Co. boosted its stake in Quanta Services by 2.1% in the fourth quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company's stock worth $700,000 after buying an additional 66 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Quanta Services by 0.5% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company's stock worth $2,340,000 after buying an additional 67 shares in the last quarter. Czech National Bank boosted its stake in Quanta Services by 0.3% in the fourth quarter. Czech National Bank now owns 25,445 shares of the construction company's stock worth $5,491,000 after buying an additional 67 shares in the last quarter. Finally, Gray Wealth Management Inc. raised its holdings in shares of Quanta Services by 6.2% during the third quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company's stock valued at $218,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Stock Down 1.0 %

Shares of NYSE PWR traded down $2.42 during trading on Friday, reaching $243.26. The company had a trading volume of 1,134,676 shares, compared to its average volume of 927,115. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $265.82. The stock has a market cap of $35.61 billion, a PE ratio of 48.55 and a beta of 1.11. The business's 50-day moving average is $242.03 and its 200 day moving average is $208.31. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58.

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

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a dividend of $0.09 per share. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.15%. Quanta Services's dividend payout ratio (DPR) is presently 7.19%.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares of the company's stock, valued at $62,476,452.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Worthing Jackman sold 9,572 shares of the firm'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 transaction, the director now owns 7,486 shares of the company's stock, valued at $1,776,502.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the firm's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock valued at $11,270,215 over the last ninety days. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PWR. DA Davidson upped their target price on Quanta Services from $190.00 to $225.00 and gave the company a "neutral" rating in a report on Wednesday, February 28th. Evercore ISI began coverage on Quanta Services in a report on Tuesday, February 13th. They set an "outperform" rating and a $237.00 target price for the company. The Goldman Sachs Group upped their target price on Quanta Services from $227.00 to $259.00 and gave the company a "buy" rating in a report on Monday, February 26th. TD Cowen increased their price objective on Quanta Services from $205.00 to $270.00 and gave the stock an "outperform" rating in a report on Tuesday, February 27th. Finally, Stifel Nicolaus increased their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and an average 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.