Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 93.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 269,508 shares of the construction company’s stock after buying an additional 130,020 shares during the period. Jennison Associates LLC owned approximately 0.19% of Quanta Services worth $58,160,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC raised its holdings in shares of Quanta Services by 1.7% during the third quarter. CWM LLC now owns 4,153 shares of the construction company’s stock worth $777,000 after purchasing an additional 70 shares during the last quarter. AE Wealth Management LLC raised its holdings in shares of Quanta Services by 22.0% during the third quarter. AE Wealth Management LLC now owns 1,593 shares of the construction company’s stock worth $298,000 after purchasing an additional 287 shares during the last quarter. Geneos Wealth Management Inc. raised 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 purchasing an additional 173 shares during the last quarter. Garrison Bradford & Associates Inc. increased its holdings in Quanta Services by 5.4% in the third quarter. Garrison Bradford & Associates Inc. now owns 15,962 shares of the construction company’s stock valued at $2,986,000 after buying an additional 824 shares in the last quarter. Finally, Oak Thistle LLC increased its holdings in Quanta Services by 126.3% in the third quarter. Oak Thistle LLC now owns 3,282 shares of the construction company’s stock valued at $614,000 after buying an additional 1,832 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Performance

NYSE:PWR opened at $251.95 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The firm has a market capitalization of $36.88 billion, a price-to-earnings ratio of 50.29 and a beta of 1.11. The company’s 50-day moving average is $243.37 and its two-hundred day moving average is $209.86. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 EPS. Analysts forecast that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date was Monday, April 8th. Quanta Services’s payout ratio is currently 7.19%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. KeyCorp assumed coverage on shares of Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Citigroup lifted their price objective on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday. Evercore ISI initiated coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. Stifel Nicolaus lifted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, 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. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and an average target price of $243.23.

Insider Buying and Selling

In related news, Director Worthing Jackman sold 9,572 shares of the company’s 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 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 is available through this link. In related news, Director Worthing Jackman sold 9,572 shares of the company’s 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 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 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 stock was sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the sale, the director now directly owns 34,063 shares in the company, valued at $8,172,394.96. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock valued at $11,270,215 in the last ninety days. Company insiders own 1.10% of the company’s stock.

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.