Twin Capital Management Inc. Boosts Stock Position in Quanta Services, Inc. (NYSE:PWR)

Twin Capital Management Inc. lifted its position in Quanta Services, Inc. (NYSE:PWR) by 158.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,725 shares of the construction company’s stock after purchasing an additional 7,192 shares during the quarter. Twin Capital Management Inc.’s holdings in Quanta Services were worth $2,530,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Quanta Services during the 4th quarter valued at about $180,853,000. Nordea Investment Management AB boosted its holdings in Quanta Services by 8,297.7% during the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after acquiring an additional 901,548 shares during the period. Royal Bank of Canada boosted its holdings in Quanta Services by 52.2% during the 1st quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock valued at $196,405,000 after acquiring an additional 511,508 shares during the period. Deutsche Bank AG boosted its holdings in Quanta Services by 113.7% during the 1st quarter. Deutsche Bank AG now owns 643,054 shares of the construction company’s stock valued at $107,159,000 after acquiring an additional 342,100 shares during the period. Finally, CI Private Wealth LLC purchased a new stake in Quanta Services during the 4th quarter valued at about $42,168,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. DA Davidson increased their target price on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Stifel Nicolaus upped their price target on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Truist Financial assumed coverage on Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective for the company. Evercore ISI assumed coverage on Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $239.54.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of Quanta Services 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 completion of the transaction, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction on 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.20% of the stock is owned by insiders.

Quanta Services Stock Up 0.2 %

Shares of PWR traded up $0.56 on Thursday, reaching $246.52. The stock had a trading volume of 452,168 shares, compared to its average volume of 915,376. The firm has a market capitalization of $36.09 billion, a price-to-earnings ratio of 49.10 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company has a 50-day simple moving average of $241.27 and a 200-day simple moving average of $208.05. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $265.82.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.46% 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 quarter last year, the business posted $1.54 EPS. Sell-side analysts predict 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 was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s payout ratio is 7.19%.

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.