Belpointe Asset Management LLC Buys New Stake in Quanta Services, Inc. (NYSE:PWR)

Belpointe Asset Management LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR – Get Rating) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 326 shares of the construction company’s stock, valued at approximately $46,000.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Quanta Services by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 15,363,311 shares of the construction company’s stock valued at $2,021,965,000 after purchasing an additional 182,092 shares during the period. Peconic Partners LLC increased its holdings in Quanta Services by 1.2% in the 3rd quarter. Peconic Partners LLC now owns 5,531,203 shares of the construction company’s stock worth $704,620,000 after acquiring an additional 65,492 shares in the last quarter. State Street Corp increased its holdings in Quanta Services by 0.8% in the 3rd quarter. State Street Corp now owns 5,421,891 shares of the construction company’s stock worth $691,070,000 after acquiring an additional 45,137 shares in the last quarter. Royal Bank of Canada increased its holdings in Quanta Services by 52.2% in the 1st quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock worth $196,405,000 after acquiring an additional 511,508 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Quanta Services by 1.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 1,185,411 shares of the construction company’s stock worth $168,921,000 after acquiring an additional 19,515 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on PWR shares. Argus boosted their price target on shares of Quanta Services from $168.00 to $189.00 and gave the stock a “buy” rating in a report on Friday, February 24th. KeyCorp boosted their price target on shares of Quanta Services from $174.00 to $190.00 in a report on Monday, April 24th. Northland Securities upped their target price on shares of Quanta Services from $171.00 to $190.00 in a report on Thursday, May 18th. StockNews.com initiated coverage on shares of Quanta Services in a report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Robert W. Baird upped their target price on shares of Quanta Services from $173.00 to $186.00 in a report on Friday, May 5th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $177.91.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 85,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $171.32, for a total value of $14,562,200.00. Following the transaction, the chief executive officer now owns 730,890 shares of the company’s stock, valued at $125,216,074.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO James Redgie Probst sold 50,000 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $171.13, for a total transaction of $8,556,500.00. Following the sale, the chief operating officer now owns 50,036 shares of the company’s stock, valued at $8,562,660.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 85,000 shares of the stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $171.32, for a total transaction of $14,562,200.00. Following the sale, the chief executive officer now directly owns 730,890 shares in the company, valued at approximately $125,216,074.80. The disclosure for this sale can be found here. Insiders have sold 276,646 shares of company stock valued at $46,856,598 over the last 90 days. 1.30% of the stock is owned by insiders.

Quanta Services Trading Down 0.0 %

Shares of PWR opened at $166.56 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.58 and a debt-to-equity ratio of 0.74. Quanta Services, Inc. has a 12-month low of $112.86 and a 12-month high of $176.29. The firm has a 50-day moving average price of $165.89 and a 200 day moving average price of $155.25. The firm has a market capitalization of $24.18 billion, a P/E ratio of 49.13 and a beta of 1.08.

Quanta Services (NYSE:PWR – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The construction company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. Quanta Services had a net margin of 2.86% and a return on equity of 15.72%. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.27 billion. Sell-side analysts forecast that Quanta Services, Inc. will post 6.42 EPS for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 18th. Shareholders of record on Monday, April 10th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, April 6th. This represents a $0.32 dividend on an annualized basis and a yield of 0.19%. Quanta Services’s payout ratio is currently 9.44%.

Quanta Services Profile

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Quanta Services, Inc engages in the provision of comprehensive infrastructure solutions to the electric power, oil and gas, and communication industries. It operates through the following segments: Electric Power Infrastructure Solutions, Renewable Energy Infrastructure Solutions, and Underground Utility and Infrastructure Solutions.