Hazlett Burt & Watson Inc. Buys 52 Shares of Quanta Services, Inc. (NYSE:PWR)

Hazlett Burt & Watson Inc. boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 47.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 162 shares of the construction company’s stock after acquiring an additional 52 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Quanta Services were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pinion Investment Advisors LLC lifted its holdings in Quanta Services by 9.4% during the fourth quarter. Pinion Investment Advisors LLC now owns 1,569 shares of the construction company’s stock worth $339,000 after acquiring an additional 135 shares in the last quarter. Meeder Advisory Services Inc. bought a new stake in shares of Quanta Services in the fourth quarter valued at about $243,000. Ceredex Value Advisors LLC bought a new stake in shares of Quanta Services in the fourth quarter valued at about $31,730,000. Zweig DiMenna Associates LLC lifted its holdings in shares of Quanta Services by 48.2% in the fourth quarter. Zweig DiMenna Associates LLC now owns 65,000 shares of the construction company’s stock valued at $14,027,000 after purchasing an additional 21,148 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Quanta Services by 9.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 45,372 shares of the construction company’s stock valued at $9,791,000 after purchasing an additional 4,100 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PWR has been the topic of a number of research reports. KeyCorp initiated coverage on Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating on the stock. DA Davidson boosted their price target on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. TD Cowen upped their target price on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Stifel Nicolaus upped their target price on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Citigroup upped their target price on Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Quanta Services currently has a consensus rating of “Moderate Buy” and an average target price of $239.54.

Insider Buying and Selling

In related news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was 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 owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock valued at $11,270,215 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

Quanta Services Price Performance

Quanta Services stock opened at $262.26 on Tuesday. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $265.82. The stock’s 50 day moving average is $234.19 and its 200-day moving average is $205.01. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $38.22 billion, a price-to-earnings ratio of 52.35 and a beta of 1.11.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the prior year, the business earned $1.54 earnings per share. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. Equities research analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

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