Alta Capital Management LLC purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,992 shares of the construction company’s stock, valued at approximately $1,685,000.
A number of other hedge funds also recently modified their holdings of the business. Mission Wealth Management LP lifted its holdings in shares of Quanta Services by 109.0% during the fourth quarter. Mission Wealth Management LP now owns 1,072 shares of the construction company’s stock worth $452,000 after purchasing an additional 559 shares during the period. Sapient Capital LLC acquired a new position in shares of Quanta Services during the fourth quarter worth $695,000. Chase Investment Counsel Corp acquired a new position in shares of Quanta Services during the fourth quarter worth $262,000. North Dakota State Investment Board acquired a new position in shares of Quanta Services during the fourth quarter worth $2,131,000. Finally, Elyxium Wealth LLC acquired a new position in Quanta Services in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 90.49% of the company’s stock.
Quanta Services Trading Down 6.1%
PWR opened at $723.01 on Tuesday. Quanta Services, Inc. has a 1-year low of $320.56 and a 1-year high of $788.75. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.57. The company has a market cap of $108.49 billion, a P/E ratio of 99.18, a price-to-earnings-growth ratio of 2.64 and a beta of 1.24. The company has a fifty day moving average price of $619.54 and a two-hundred day moving average price of $521.74.
Quanta Services Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Thursday, April 2nd were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Thursday, April 2nd. Quanta Services’s payout ratio is 6.04%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on PWR. Bank of America boosted their target price on shares of Quanta Services from $500.00 to $610.00 and gave the company a “buy” rating in a report on Friday, February 20th. Jefferies Financial Group boosted their target price on shares of Quanta Services from $654.00 to $857.00 and gave the company a “buy” rating in a report on Monday, May 4th. Truist Financial set a $851.00 target price on shares of Quanta Services in a report on Friday, May 1st. Wall Street Zen upgraded shares of Quanta Services from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, UBS Group boosted their target price on shares of Quanta Services from $646.00 to $900.00 and gave the company a “buy” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $708.05.
View Our Latest Research Report on Quanta Services
Insider Buying and Selling at Quanta Services
In other Quanta Services news, CEO Earl C. Jr. Austin sold 25,992 shares of Quanta Services stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $770.71, for a total value of $20,032,294.32. Following the completion of the sale, the chief executive officer directly owned 16,508 shares of the company’s stock, valued at approximately $12,722,880.68. The trade was a 61.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Paul Nobel sold 4,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $756.98, for a total transaction of $3,027,920.00. Following the sale, the chief accounting officer directly owned 8,080 shares of the company’s stock, valued at approximately $6,116,398.40. The trade was a 33.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 159,992 shares of company stock valued at $123,244,714. Insiders own 0.60% of the company’s stock.
Quanta Services Company Profile
Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.
In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.
Featured Articles
- Five stocks we like better than Quanta Services
- Why Applied Optoelectronics Stock May Be Near a Turning Point
- From High-Yield to High-Growth: 3 Stocks Boosting Dividends
- Is Everspin Technologies the Next AI Edge Breakout?
- 5 Robotics Stocks to Watch as Physical AI Builds Momentum
Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR – Free Report).
Receive News & Ratings for Quanta Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanta Services and related companies with MarketBeat.com's FREE daily email newsletter.
