Truist Financial Corp boosted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 2.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 432,810 shares of the construction company's stock after acquiring an additional 9,421 shares during the period. Truist Financial Corp owned about 0.30% of Quanta Services worth $93,400,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grove Bank & Trust grew its holdings in Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company's stock worth $30,000 after acquiring an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its position in shares of Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company's stock worth $34,000 after buying an additional 52 shares during the last quarter. Valley National Advisers Inc. purchased a new stake in shares of Quanta Services during the 4th quarter worth approximately $41,000. NBC Securities Inc. purchased a new stake in shares of Quanta Services during the 3rd quarter worth approximately $36,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Quanta Services during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 90.49% of the company's stock.
Quanta Services Stock Performance
Quanta Services stock traded up $6.47 during trading hours on Friday, reaching $261.66. 1,180,022 shares of the stock were exchanged, compared to its average volume of 783,667. The stock has a market cap of $38.30 billion, a P/E ratio of 52.23 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $265.82. The firm's 50 day moving average is $246.91 and its 200 day moving average is $211.63.
Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data 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 net margin of 3.57% and a return on equity of 16.46%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. Quanta Services's quarterly revenue was up 31.0% on a year-over-year basis. Analysts predict 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 was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services's dividend payout ratio (DPR) is presently 7.19%.
Insider Transactions at Quanta Services
In other news, EVP Donald Wayne sold 1,101 shares of the company's 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 transaction, the executive vice president now directly owns 40,065 shares of the company's stock, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Donald Wayne sold 1,101 shares of the 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 sale, the executive vice president now directly owns 40,065 shares of the company's stock, valued at approximately $10,494,626.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now owns 263,725 shares of the company's stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock valued at $11,270,215 in the last ninety days. 1.10% of the stock is currently owned by company insiders.
Analyst Ratings Changes
PWR has been the subject of several recent analyst reports. Citigroup boosted their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, April 22nd. Truist Financial assumed coverage on shares of Quanta Services in a research report on Thursday, March 14th. They issued a "buy" rating and a $301.00 price target for the company. Evercore ISI assumed coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They issued an "outperform" rating and a $237.00 price target for the company. The Goldman Sachs Group upped their price target on shares of Quanta Services from $227.00 to $259.00 and gave the company a "buy" rating in a research report on Monday, February 26th. Finally, Stifel Nicolaus upped 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. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $247.67.
Check Out Our Latest Analysis on Quanta Services
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.
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