WealthShield Partners LLC Acquires New Position in Quanta Services, Inc. (NYSE:PWR)

WealthShield Partners LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,738 shares of the construction company’s stock, valued at approximately $375,000.

Several other large investors have also bought and sold shares of the business. Panagora Asset Management Inc. increased its stake in Quanta Services by 79.1% in the first quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company’s stock valued at $1,509,000 after purchasing an additional 5,063 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Quanta Services by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,067 shares of the construction company’s stock valued at $2,509,000 after purchasing an additional 1,181 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Quanta Services by 2.6% in the first quarter. Great West Life Assurance Co. Can now owns 26,648 shares of the construction company’s stock valued at $3,655,000 after purchasing an additional 668 shares in the last quarter. Raymond James Trust N.A. increased its stake in Quanta Services by 8.3% in the first quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company’s stock valued at $652,000 after purchasing an additional 379 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in Quanta Services by 21.7% in the first quarter. Blair William & Co. IL now owns 16,156 shares of the construction company’s stock valued at $2,126,000 after purchasing an additional 2,884 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company. Citigroup increased their price objective on shares of Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. The Goldman Sachs Group increased their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Evercore ISI started coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective for the company. Finally, Truist Financial started coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.54.

Quanta Services Stock Performance

Shares of PWR stock opened at $258.30 on Friday. The stock has a market cap of $37.65 billion, a P/E ratio of 51.56 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The company has a fifty day moving average price of $231.55 and a two-hundred day moving average price of $203.90. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $265.82.

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, topping analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. Quanta Services’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.54 EPS. As a group, equities analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend is Monday, April 8th. Quanta Services’s dividend payout ratio is presently 7.19%.

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.