Cannell & Co. Has $27.86 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Cannell & Co. increased its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 129,078 shares of the construction company's stock after purchasing an additional 18,077 shares during the period. Cannell & Co. owned 0.09% of Quanta Services worth $27,855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Truist Financial Corp grew its position in shares of Quanta Services by 2.2% in the fourth quarter. Truist Financial Corp now owns 432,810 shares of the construction company's stock valued at $93,400,000 after purchasing an additional 9,421 shares during the period. Carnegie Capital Asset Management LLC grew its position in Quanta Services by 24.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company's stock valued at $356,000 after acquiring an additional 325 shares during the period. Gradient Investments LLC grew its position in Quanta Services by 669,187.5% during the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company's stock valued at $11,555,000 after acquiring an additional 53,535 shares during the period. Saxon Interests Inc. purchased a new stake in Quanta Services during the fourth quarter valued at about $1,352,000. Finally, Nordea Investment Management AB grew its position 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 valued at $196,205,000 after acquiring an additional 901,548 shares during the period. 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 $2.55 during trading on Wednesday, hitting $256.01. The company's stock had a trading volume of 1,184,216 shares, compared to its average volume of 928,284. The stock's 50-day moving average price is $248.91 and its two-hundred day moving average price is $213.29. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $265.82. The company has a market capitalization of $37.47 billion, a PE ratio of 51.00 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 (NYSE:PWR - Get Free Report) last announced 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. 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 quarter in the prior year, the firm posted $1.54 earnings per share. Quanta Services's revenue for the quarter was up 31.0% compared to the same quarter last year. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

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

Analyst Upgrades and Downgrades

PWR has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on 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 Quanta Services in a research note on Thursday, March 14th. They set a "buy" rating and a $301.00 price objective on the stock. Citigroup boosted their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, April 22nd. DA Davidson boosted their price objective on Quanta Services from $190.00 to $225.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group boosted their price objective on Quanta Services from $227.00 to $259.00 and gave the stock a "buy" rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services has an average rating of "Moderate Buy" and a consensus price target of $247.67.

Insider Activity

In other news, EVP Donald Wayne sold 1,101 shares of the company's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares of the company's stock, valued at $10,494,626.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 7,486 shares of the company's stock, valued at $1,776,502.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is currently owned by 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.