Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. increased its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,026 shares of the construction company's stock after acquiring an additional 5,293 shares during the period. Quanta Services makes up 2.3% of Adell Harriman & Carpenter Inc.'s portfolio, making the stock its 10th biggest position. Adell Harriman & Carpenter Inc. owned approximately 0.08% of Quanta Services worth $25,254,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Truist Financial Corp grew its position in Quanta Services by 2.2% in the 4th quarter. Truist Financial Corp now owns 432,810 shares of the construction company's stock valued at $93,400,000 after buying an additional 9,421 shares in the last quarter. Carnegie Capital Asset Management LLC grew its position in Quanta Services by 24.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company's stock valued at $356,000 after buying an additional 325 shares in the last quarter. Gradient Investments LLC grew its position in Quanta Services by 669,187.5% in the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company's stock valued at $11,555,000 after buying an additional 53,535 shares in the last quarter. Saxon Interests Inc. bought a new position in Quanta Services in the 4th quarter valued at about $1,352,000. Finally, Nordea Investment Management AB boosted its position in shares of Quanta Services by 8,297.7% during the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company's stock valued at $196,205,000 after purchasing an additional 901,548 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. DA Davidson raised their price objective 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. Evercore ISI assumed coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an "outperform" rating and a $237.00 price objective for the company. Stifel Nicolaus raised their price objective 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. The Goldman Sachs Group raised their price objective 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, KeyCorp started coverage on shares of Quanta Services in a report on Wednesday, January 10th. They issued a "sector weight" rating for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $247.67.

Quanta Services Stock Up 0.3 %

Shares of NYSE PWR traded up $0.67 during mid-day trading on Monday, reaching $262.33. The company had a trading volume of 884,651 shares, compared to its average volume of 923,476. The stock has a fifty day moving average of $246.91 and a two-hundred day moving average of $212.10. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company has a market capitalization of $38.40 billion, a price-to-earnings ratio of 52.36 and a beta of 1.11. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm's revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 earnings per share. As a group, equities research analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current 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. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date was Monday, April 8th. Quanta Services's payout ratio is presently 7.19%.

Insider Activity at Quanta Services

In related news, Director Worthing Jackman sold 9,572 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Quanta Services news, Director Margaret B. Shannon sold 8,515 shares of the stock in a transaction that occurred on 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 owns 34,063 shares in the company, valued at $8,172,394.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were 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 approximately $1,776,502.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is currently owned by corporate insiders.

About Quanta Services

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.