Stratos Wealth Advisors LLC Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Stratos Wealth Advisors LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,781 shares of the construction company’s stock, valued at approximately $600,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Grove Bank & Trust boosted its stake in shares of Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after acquiring an additional 68 shares during the period. Perkins Coie Trust Co bought a new position in shares of Quanta Services during the 3rd quarter valued at about $30,000. VisionPoint Advisory Group LLC purchased a new position in shares of Quanta Services during the second quarter valued at about $33,000. ICA Group Wealth Management LLC bought a new stake in shares of Quanta Services in the fourth quarter worth about $26,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Quanta Services by 1,730.0% in the third quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock worth $34,000 after buying an additional 173 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Quanta Services

In other Quanta Services 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 owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the sale, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.30% of the stock is currently owned by corporate insiders.

Quanta Services Stock Performance

PWR stock opened at $262.26 on Tuesday. The firm has a market cap of $38.22 billion, a price-to-earnings ratio of 52.35 and a beta of 1.11. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $234.19 and its two-hundred day simple moving average is $205.01.

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

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders 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 (DPR) is presently 7.19%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PWR shares. The Goldman Sachs Group raised their price target on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a report on Monday, February 26th. KeyCorp initiated coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. Truist Financial assumed coverage on shares of Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. Citigroup increased their price target on shares of Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a report on Friday, January 26th. Finally, Stifel Nicolaus boosted their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.54.

Quanta Services Company 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.