Spire Wealth Management Raises Stock Position in Quanta Services, Inc. (NYSE:PWR)

Spire Wealth Management increased its position in Quanta Services, Inc. (NYSE:PWR) by 32.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,339 shares of the construction company’s stock after acquiring an additional 8,485 shares during the period. Spire Wealth Management’s holdings in Quanta Services were worth $6,952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PWR. Grove Bank & Trust increased its stake in Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after purchasing an additional 68 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its position in shares of Quanta Services by 47.3% in 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 during the period. Valley National Advisers Inc. purchased a new position in Quanta Services in the fourth quarter valued at about $41,000. NBC Securities Inc. bought a new position in Quanta Services during the 3rd quarter worth approximately $36,000. Finally, Planned Solutions Inc. bought a new position in Quanta Services during the 4th quarter worth approximately $43,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated 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 in the company, valued at approximately $1,776,502.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated 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 completion of the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Wayne sold 595 shares of Quanta Services stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the transaction, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at $10,052,597.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,125 shares of company stock worth $11,270,215. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Truist Financial reiterated a “buy” rating and set a $305.00 price target (up from $301.00) on shares of Quanta Services in a research report on Monday. TD Cowen increased their price target on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. B. Riley increased their price target on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird raised their target price on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Citigroup raised their target price on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $256.15.

Quanta Services Stock Up 5.1 %

Shares of Quanta Services stock traded up $13.17 during trading on Monday, hitting $269.50. 1,381,617 shares of the stock traded hands, compared to its average volume of 939,897. The stock has a market cap of $39.45 billion, a P/E ratio of 49.68 and a beta of 1.10. The company has a fifty day moving average price of $250.69 and a two-hundred day moving average price of $214.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $270.42.

Quanta Services (NYSE:PWR) last posted its 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 analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. Quanta Services’s revenue was up 31.0% compared to the same quarter last year. During the same period last year, the business posted $1.54 EPS. Equities research analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

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.