Valley National Advisers Inc. Purchases New Shares in Quanta Services, Inc. (NYSE:PWR)

Valley National Advisers Inc. purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 191 shares of the construction company’s stock, valued at approximately $41,000.

A number of other large investors have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC acquired a new position in Quanta Services during the 4th quarter worth $26,000. Coppell Advisory Solutions Corp. acquired a new position in Quanta Services during the 4th quarter worth $28,000. Perkins Coie Trust Co acquired a new position in Quanta Services during the 3rd quarter worth $30,000. Grove Bank & Trust grew its holdings in Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after acquiring an additional 68 shares in the last quarter. Finally, VisionPoint Advisory Group LLC bought a new position in shares of Quanta Services in the 2nd quarter worth about $33,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Citigroup raised their price target 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. Evercore ISI began coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target on the stock. TD Cowen lifted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Finally, DA Davidson lifted their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $239.54.

Quanta Services Stock Performance

Quanta Services stock opened at $254.30 on Thursday. The firm’s 50 day simple moving average is $236.58 and its 200-day simple moving average is $205.83. The company has a market cap of $37.06 billion, a P/E ratio of 50.76 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. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $265.82.

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

Quanta Services Dividend Announcement

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

Insider Transactions at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 595 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following the sale, the executive vice president now owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Donald Wayne sold 595 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following the sale, the executive vice president now owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,125 shares of company stock worth $11,270,215. 1.30% of the stock is owned by insiders.

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.