Riverstone Advisors LLC Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Riverstone Advisors LLC bought a new position in Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,022 shares of the construction company’s stock, valued at approximately $221,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ICA Group Wealth Management LLC purchased a new stake in Quanta Services in the 4th quarter worth approximately $26,000. Coppell Advisory Solutions Corp. purchased a new position in Quanta Services in the fourth quarter valued at $28,000. Perkins Coie Trust Co acquired a new position in shares of Quanta Services in the third quarter worth about $30,000. Grove Bank & Trust boosted its stake in shares of Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after acquiring an additional 68 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Quanta Services by 1,730.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock worth $34,000 after purchasing an additional 173 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other news, Director Worthing Jackman sold 9,572 shares of the firm’s 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 sale, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. 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. Corporate insiders own 1.30% of the company’s stock.

Quanta Services Trading Down 0.1 %

NYSE:PWR traded down $0.24 during trading hours on Tuesday, reaching $248.65. 368,986 shares of the stock were exchanged, compared to its average volume of 916,250. The business has a 50-day moving average of $239.68 and a two-hundred day moving average of $207.35. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82. The company has a market capitalization of $36.24 billion, a price-to-earnings ratio of 49.57 and a beta of 1.11. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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 firm had revenue of $5.78 billion during 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 quarter in the previous year, the business posted $1.54 earnings per share. On average, equities analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th will be paid a dividend of $0.09 per share. The ex-dividend date 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 currently 7.19%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PWR shares. The Goldman Sachs Group upped their target price on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Truist Financial initiated coverage on shares of Quanta Services in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. Evercore ISI assumed coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target for the company. TD Cowen upped their target price 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, KeyCorp assumed coverage on Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $239.54.

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.