McKinley Carter Wealth Services Inc. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 5.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 19,547 shares of the construction company’s stock after buying an additional 944 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Quanta Services were worth $8,250,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of PWR. Brighton Jones LLC acquired a new stake in Quanta Services during the fourth quarter worth about $298,000. Woodline Partners LP raised its stake in Quanta Services by 40.7% during the first quarter. Woodline Partners LP now owns 12,471 shares of the construction company’s stock worth $3,170,000 after acquiring an additional 3,606 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Quanta Services during the second quarter worth about $4,632,000. Marshall Wace LLP acquired a new stake in Quanta Services during the second quarter worth about $996,000. Finally, StoneX Group Inc. acquired a new stake in Quanta Services during the second quarter worth about $204,000. Institutional investors and hedge funds own 90.49% of the company’s stock.
Quanta Services Price Performance
NYSE PWR opened at $723.01 on Tuesday. Quanta Services, Inc. has a 52 week low of $320.56 and a 52 week 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 stock has a market cap of $108.49 billion, a price-to-earnings ratio of 99.18, a price-to-earnings-growth ratio of 2.64 and a beta of 1.24. The company has a 50-day moving average price of $619.54 and a two-hundred day moving average price of $521.74.
Quanta Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Thursday, April 2nd were issued a $0.11 dividend. The ex-dividend date was Thursday, April 2nd. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is 6.04%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on PWR shares. Weiss Ratings lowered shares of Quanta Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Truist Financial set a $851.00 price objective on shares of Quanta Services in a research note on Friday, May 1st. Stifel Nicolaus set a $784.00 price objective on shares of Quanta Services in a research note on Friday, May 1st. DA Davidson increased their price objective on shares of Quanta Services from $450.00 to $575.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Finally, UBS Group upped their target price on shares of Quanta Services from $646.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $708.05.
Get Our Latest Report on Quanta Services
Insider Activity at Quanta Services
In other news, CAO Paul Nobel sold 4,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $756.98, for a total value of $3,027,920.00. Following the completion of the transaction, the chief accounting officer directly owned 8,080 shares in the company, valued at $6,116,398.40. This trade represents a 33.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $770.65, for a total transaction of $100,184,500.00. Following the completion of the transaction, the chief executive officer owned 556,911 shares of the company’s stock, valued at $429,183,462.15. This trade represents a 18.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 159,992 shares of company stock valued at $123,244,714 over the last quarter. Insiders own 0.60% of the company’s stock.
About Quanta Services
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.
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