Bleakley Financial Group LLC Has $1.42 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Bleakley Financial Group LLC raised its stake in Quanta Services, Inc. (NYSE:PWR) by 159.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,563 shares of the construction company’s stock after acquiring an additional 4,035 shares during the quarter. Bleakley Financial Group LLC’s holdings in Quanta Services were worth $1,416,000 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 PWR. Panagora Asset Management Inc. increased its position in Quanta Services by 79.1% in the 1st quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company’s stock valued at $1,509,000 after acquiring an additional 5,063 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Quanta Services by 6.6% in the 1st 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 acquiring an additional 1,181 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Quanta Services by 2.6% in the 1st 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 during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Quanta Services by 8.3% in the 1st 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 during the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of Quanta Services by 21.7% in the 1st 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 during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR stock opened at $254.30 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company has a market capitalization of $37.06 billion, a P/E ratio of 50.76 and a beta of 1.11. The company’s 50 day moving average price is $236.58 and its two-hundred day moving average price is $205.83. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $265.82.

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

Quanta Services Dividend Announcement

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

Insider Activity

In other news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction that occurred on Tuesday, February 27th. The shares were 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 directly owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction on 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 owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 over the last ninety days. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PWR shares. Citigroup raised their target price on shares of Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Stifel Nicolaus raised their target price on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. TD Cowen raised their target price on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Finally, The Goldman Sachs Group lifted their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average target price 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.