Essex Investment Management Co. LLC Decreases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Essex Investment Management Co. LLC lessened its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 61.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,566 shares of the construction company's stock after selling 8,727 shares during the quarter. Essex Investment Management Co. LLC's holdings in Quanta Services were worth $1,201,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PWR. Hazlett Burt & Watson Inc. lifted its stake in shares of Quanta Services by 47.3% in the 4th 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 during the last quarter. NBC Securities Inc. bought a new position in shares of Quanta Services in the 3rd quarter valued at $36,000. Valley National Advisers Inc. bought a new position in shares of Quanta Services in the 4th quarter valued at $41,000. Vestor Capital LLC bought a new position in shares of Quanta Services in the 4th quarter valued at $42,000. Finally, Planned Solutions Inc. bought a new position in shares of Quanta Services in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Insider Activity

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated 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 in the company, valued at approximately $1,776,502.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the firm's stock in a transaction 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 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 this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the company's stock in a transaction 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 sale, the executive vice president now owns 263,725 shares of the company's stock, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock worth $11,270,215 in the last three months. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Truist Financial reaffirmed a "buy" rating and set a $305.00 target price (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. Robert W. Baird raised their target price on Quanta Services from $265.00 to $287.00 and gave the stock an "outperform" rating in a research report on Friday, May 3rd. Evercore ISI raised their target price on Quanta Services from $255.00 to $288.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 7th. The Goldman Sachs Group raised their target price on Quanta Services from $227.00 to $259.00 and gave the stock a "buy" rating in a research report on Monday, February 26th. Finally, Stifel Nicolaus raised their target price on Quanta Services from $237.00 to $252.00 and gave the stock a "buy" rating in a research report on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $262.00.

Quanta Services Stock Up 2.8 %

Shares of PWR traded up $7.43 during trading hours on Wednesday, hitting $270.79. The stock had a trading volume of 802,742 shares, compared to its average volume of 940,610. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The firm has a 50 day simple moving average of $255.12 and a 200-day simple moving average of $220.30. The firm has a market capitalization of $39.64 billion, a P/E ratio of 52.48 and a beta of 1.10. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $273.00.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The firm's revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period last year, the business posted $1.54 EPS. Sell-side analysts predict that Quanta Services, Inc. will post 7.68 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

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.