Spire Wealth Management Boosts Stock Position in Quanta Services, Inc. (NYSE:PWR)

Spire Wealth Management boosted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 32.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,339 shares of the construction company's stock after acquiring an additional 8,485 shares during the period. Spire Wealth Management's holdings in Quanta Services were worth $6,952,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PWR. Truist Financial Corp lifted its holdings in shares of Quanta Services by 2.2% in the 4th quarter. Truist Financial Corp now owns 432,810 shares of the construction company's stock worth $93,400,000 after acquiring an additional 9,421 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its holdings in shares of 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 worth $356,000 after acquiring an additional 325 shares during the last quarter. Gradient Investments LLC lifted its holdings in shares of Quanta Services by 669,187.5% in the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company's stock worth $11,555,000 after acquiring an additional 53,535 shares during the last quarter. Saxon Interests Inc. bought a new stake in shares of Quanta Services in the 4th quarter worth approximately $1,352,000. Finally, Nordea Investment Management AB raised its holdings in 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 buying an additional 901,548 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the company'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 in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now 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 a total of 47,125 shares of company stock worth $11,270,215 in the last quarter. Corporate insiders own 1.10% of the company's stock.

Quanta Services Stock Up 5.1 %

Shares of NYSE:PWR traded up $13.11 during midday trading on Monday, reaching $269.44. The company's stock had a trading volume of 1,381,705 shares, compared to its average volume of 939,897. The firm has a 50 day moving average of $251.36 and a 200-day moving average of $215.69. The firm has a market capitalization of $39.44 billion, a P/E ratio of 52.22 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $270.42.

Quanta Services (NYSE:PWR - Get Free Report) last announced 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 company had revenue of $5.78 billion for the quarter, compared to analysts' expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. Quanta Services's revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.54 EPS. On average, research analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services's payout ratio is 6.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PWR shares. Citigroup upped their price target on shares of Quanta Services from $275.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 22nd. KeyCorp started coverage on shares of Quanta Services in a report on Wednesday, January 10th. They set a "sector weight" rating 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 report on Monday, February 26th. TD Cowen upped their price target on shares of Quanta Services from $205.00 to $270.00 and gave the company an "outperform" rating in a report on Tuesday, February 27th. Finally, Evercore ISI initiated coverage on shares of Quanta Services in a report on Tuesday, February 13th. They set an "outperform" rating and a $237.00 price target for the company. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $256.15.

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.