Thompson Davis & CO. Inc. Takes Position in Quanta Services, Inc. (NYSE:PWR)

Thompson Davis & CO. Inc. bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,750 shares of the construction company’s stock, valued at approximately $378,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PWR. Truist Financial Corp lifted its position in Quanta Services by 2.2% during the 4th quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock worth $93,400,000 after buying an additional 9,421 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its position in Quanta Services by 24.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock worth $356,000 after buying an additional 325 shares in the last quarter. Gradient Investments LLC raised its holdings in Quanta Services by 669,187.5% during the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after purchasing an additional 53,535 shares during the last quarter. Saxon Interests Inc. bought a new stake in Quanta Services during the 4th quarter worth about $1,352,000. Finally, Nordea Investment Management AB raised 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 worth $196,205,000 after purchasing an additional 901,548 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PWR. Stifel Nicolaus boosted their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. KeyCorp began coverage on Quanta Services in a report on Wednesday, January 10th. They set a “sector weight” rating for the company. TD Cowen boosted their price objective on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Truist Financial started coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. Finally, Citigroup upped their price target on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. 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, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $247.67.

Insider Activity at Quanta Services

In related news, Director Worthing Jackman sold 9,572 shares of the firm’s 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 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 the SEC website. In related 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 value of $2,271,531.32. Following the sale, the director now directly owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company’s stock.

Quanta Services Stock Down 1.4 %

Shares of NYSE PWR traded down $3.80 during trading hours on Tuesday, hitting $258.54. The company had a trading volume of 1,066,476 shares, compared to its average volume of 925,198. The stock has a market capitalization of $37.85 billion, a P/E ratio of 52.36 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, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82. The firm’s 50 day moving average is $247.93 and its 200-day moving average is $212.69.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $1.54 EPS. On average, analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

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.