Cookson Peirce & Co. Inc. Has $89.23 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Cookson Peirce & Co. Inc. lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 413,463 shares of the construction company’s stock after selling 15,098 shares during the period. Quanta Services comprises 5.4% of Cookson Peirce & Co. Inc.’s portfolio, making the stock its biggest holding. Cookson Peirce & Co. Inc. owned approximately 0.28% of Quanta Services worth $89,225,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Grove Bank & Trust raised its position in Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after purchasing an additional 68 shares in the last quarter. Perkins Coie Trust Co acquired a new position in Quanta Services in the third quarter worth about $30,000. Hazlett Burt & Watson Inc. increased its holdings in shares of Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after buying an additional 52 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Quanta Services during the fourth quarter worth approximately $26,000. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Quanta Services by 1,730.0% during the third quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock worth $34,000 after buying an additional 173 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PWR. DA Davidson raised their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. 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. 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. Evercore ISI initiated coverage on shares of Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target for the company. Finally, The Goldman Sachs Group raised 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $239.54.

Quanta Services Trading Down 0.2 %

Shares of NYSE PWR traded down $0.48 during midday trading on Tuesday, reaching $248.41. 408,309 shares of the stock were exchanged, compared to its average volume of 917,048. The business has a 50-day simple moving average of $239.68 and a two-hundred day simple moving average of $207.35. The company has a market capitalization of $36.21 billion, a price-to-earnings ratio of 49.57 and a beta of 1.11. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $265.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44.

Quanta Services (NYSE:PWR) last announced its quarterly 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 analysts’ expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. As a group, equities research analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services’s payout ratio is 7.19%.

Insider Buying and Selling

In other Quanta Services news, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following the sale, the executive vice president now directly owns 41,954 shares in the company, valued at approximately $10,052,597.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Margaret B. Shannon sold 8,515 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the transaction, the director now directly owns 34,063 shares in the company, valued at approximately $8,172,394.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total transaction of $142,567.95. Following the sale, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. 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 ninety days. Company insiders own 1.30% 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.