Quanta Services, Inc. (NYSE:PWR) Shares Bought by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,114 shares of the construction company's stock after acquiring an additional 3,970 shares during the period. Quanta Services accounts for approximately 1.4% of Patton Albertson Miller Group LLC's portfolio, making the stock its 13th biggest position. Patton Albertson Miller Group LLC's holdings in Quanta Services were worth $8,441,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. raised its holdings in Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company's stock valued at $34,000 after acquiring an additional 52 shares in the last quarter. Central Bank & Trust Co. raised its position in shares of Quanta Services by 2.1% during the 4th quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company's stock worth $700,000 after purchasing an additional 66 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of 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 valued at $2,340,000 after buying an additional 67 shares during the last quarter. Czech National Bank grew its holdings in Quanta Services by 0.3% in the fourth quarter. Czech National Bank now owns 25,445 shares of the construction company's stock valued at $5,491,000 after purchasing an additional 67 shares during the period. Finally, Grove Bank & Trust boosted its holdings in Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company's stock valued at $30,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Insider Activity at Quanta Services

In related news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction 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 transaction, the director now directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated 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 transaction, the executive vice president now directly owns 263,725 shares of the company's stock, valued at approximately $62,476,452.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Worthing Jackman sold 9,572 shares of the company's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the transaction, the director now owns 7,486 shares of the company's stock, valued at $1,776,502.66. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 over the last ninety days. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

PWR has been the subject of a number of research reports. Robert W. Baird lifted their target price on Quanta Services from $265.00 to $287.00 and gave the company an "outperform" rating in a research note on Friday, May 3rd. Truist Financial reiterated a "buy" rating and issued a $305.00 target price (up from $301.00) on shares of Quanta Services in a report on Monday. TD Cowen upped their price target on Quanta Services from $205.00 to $270.00 and gave the company an "outperform" rating in a research report on Tuesday, February 27th. Citigroup lifted their price objective on Quanta Services from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, April 22nd. Finally, The Goldman Sachs Group boosted their price target on Quanta Services from $227.00 to $259.00 and gave the company a "buy" rating in a report on Monday, February 26th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.00.

Quanta Services Price Performance

Shares of NYSE:PWR traded up $1.31 during trading on Friday, reaching $271.48. 898,094 shares of the company traded hands, compared to its average volume of 943,176. 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 52 week low of $153.74 and a 52 week high of $272.87. The firm has a market capitalization of $39.74 billion, a PE ratio of 52.41 and a beta of 1.10. The company's 50 day moving average is $253.02 and its two-hundred day moving average is $217.12.

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 for the quarter, beating analysts' consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The firm's quarterly revenue was up 31.0% compared to the same quarter last year. During the same period last year, the company posted $1.54 EPS. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

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

Quanta Services Company 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.

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