Simplicity Wealth LLC Makes New $1.75 Million Investment in Quanta Services, Inc. (NYSE:PWR)

Simplicity Wealth LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,726 shares of the construction company's stock, valued at approximately $1,747,000.

Other institutional investors have also added to or reduced their stakes in the company. Wedmont Private Capital increased its stake in shares of Quanta Services by 1.0% in the 1st quarter. Wedmont Private Capital now owns 4,674 shares of the construction company's stock worth $1,198,000 after acquiring an additional 47 shares in the last quarter. Hazlett Burt & Watson Inc. increased 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 worth $34,000 after acquiring an additional 52 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Quanta Services by 4.6% in the 4th quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company's stock worth $295,000 after acquiring an additional 60 shares in the last quarter. Tower Wealth Partners Inc. increased its stake in shares of Quanta Services by 6.3% in the 1st quarter. Tower Wealth Partners Inc. now owns 1,040 shares of the construction company's stock worth $270,000 after acquiring an additional 62 shares in the last quarter. Finally, Central Bank & Trust Co. grew its position in Quanta Services by 2.1% during the 4th quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company's stock valued at $700,000 after purchasing an additional 66 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on PWR shares. Evercore ISI increased their price objective on shares of Quanta Services from $255.00 to $288.00 and gave the company an "outperform" rating in a research report on Tuesday, May 7th. B. Riley raised their price target on shares of Quanta Services from $246.00 to $286.00 and gave the company a "buy" rating in a report on Friday, May 3rd. Stifel Nicolaus raised their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, February 23rd. TD Cowen raised their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an "outperform" rating in a report on Tuesday, February 27th. Finally, Citigroup raised their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, April 22nd. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $262.00.

Insider Activity

In other news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred on 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 sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Derrick A. Jensen sold 18,500 shares of the business's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Wayne sold 8,842 shares of the business's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $242.27, for a total transaction of $2,142,151.34. Following the completion of the sale, the executive vice president now owns 44,129 shares in the company, valued at approximately $10,691,132.83. 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 over the last quarter. Insiders own 1.10% of the company's stock.

Quanta Services Stock Performance

NYSE PWR traded up $3.26 on Monday, reaching $267.66. 657,127 shares of the stock were exchanged, compared to its average volume of 933,732. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $273.00. The firm has a market capitalization of $39.18 billion, a PE ratio of 51.87 and a beta of 1.10. The company's 50-day simple moving average is $256.53 and its two-hundred day simple moving average is $222.76. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR - Get Free Report) last released 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. The firm 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%. The company's revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.54 earnings per share. Analysts expect that Quanta Services, Inc. will post 7.68 EPS for the current fiscal year.

Quanta Services Announces Dividend

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