Janney Montgomery Scott LLC Invests $25.46 Million in Quanta Services, Inc. (NYSE:PWR)

Janney Montgomery Scott LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 117,983 shares of the construction company's stock, valued at approximately $25,461,000. Janney Montgomery Scott LLC owned 0.08% of Quanta Services as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. FMR LLC lifted its stake in Quanta Services by 1.1% during the third quarter. FMR LLC now owns 4,229,280 shares of the construction company's stock worth $791,171,000 after purchasing an additional 44,141 shares during the last quarter. Morgan Stanley boosted its stake in Quanta Services by 3.3% in the third quarter. Morgan Stanley now owns 1,539,987 shares of the construction company's stock valued at $288,086,000 after buying an additional 49,602 shares in the last quarter. Northern Trust Corp grew its position in Quanta Services by 3.9% in the third quarter. Northern Trust Corp now owns 1,452,347 shares of the construction company's stock valued at $271,691,000 after acquiring an additional 54,268 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Quanta Services by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,412,589 shares of the construction company's stock worth $264,253,000 after acquiring an additional 40,233 shares in the last quarter. Finally, UBS Group AG lifted its holdings in shares of Quanta Services by 0.5% in the third quarter. UBS Group AG now owns 947,689 shares of the construction company's stock worth $177,284,000 after acquiring an additional 4,800 shares during the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PWR shares. TD Cowen upped their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 27th. The Goldman Sachs Group raised their price objective on Quanta Services from $227.00 to $259.00 and gave the company a "buy" rating in a report on Monday, February 26th. Truist Financial reaffirmed a "buy" rating and issued a $305.00 target price (up previously from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Stifel Nicolaus lifted their price target on Quanta Services from $237.00 to $252.00 and gave the company a "buy" rating in a research note on Friday, February 23rd. Finally, DA Davidson upped their price objective on Quanta Services from $225.00 to $250.00 and gave the company a "neutral" rating in a research note on Tuesday, May 7th. 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $262.00.

Quanta Services Stock Down 2.6 %

PWR traded down $6.96 during trading on Thursday, hitting $263.83. 701,772 shares of the company's stock were exchanged, compared to its average volume of 938,095. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $273.00. The stock has a market cap of $38.62 billion, a P/E ratio of 51.13 and a beta of 1.10. The business's 50 day moving average is $255.12 and its two-hundred day moving average is $220.30. 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 (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share 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 analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The firm's revenue was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.54 EPS. As a group, equities analysts expect that Quanta Services, Inc. will post 7.68 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services's payout ratio is currently 6.98%.

Insider Buying and Selling at Quanta Services

In other news, Director Worthing Jackman sold 9,572 shares of the company's stock in a transaction 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 completion of the sale, 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 SEC, which is accessible through this hyperlink. In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of Quanta Services 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 approximately $1,776,502.66. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Margaret B. Shannon sold 8,515 shares of the company's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $239.92, for a total value of $2,042,918.80. Following the completion of the transaction, the director now directly owns 34,063 shares of the company's stock, valued at $8,172,394.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,125 shares of company stock worth $11,270,215. Corporate insiders own 1.10% of the company's stock.

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.