Simplicity Solutions LLC Raises Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Simplicity Solutions LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 159.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,563 shares of the construction company’s stock after buying an additional 4,035 shares during the quarter. Simplicity Solutions LLC’s holdings in Quanta Services were worth $1,416,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PWR. Grove Bank & Trust increased its holdings in Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after purchasing an additional 68 shares during the last quarter. Perkins Coie Trust Co purchased a new stake in shares of Quanta Services in the 3rd quarter valued at $30,000. Hazlett Burt & Watson Inc. lifted its stake in Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after acquiring an additional 52 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Quanta Services during the 4th quarter valued at about $26,000. Finally, Geneos Wealth Management Inc. grew its position in Quanta Services by 1,730.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock valued at $34,000 after acquiring an additional 173 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Quanta Services

In other news, EVP Donald Wayne sold 595 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the transaction, the executive vice president now directly owns 41,954 shares in the company, valued at $10,052,597.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Donald Wayne sold 595 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the sale, the executive vice president now owns 41,954 shares in the company, valued at $10,052,597.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction dated 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 transaction, 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 quarter, insiders sold 47,125 shares of company stock worth $11,270,215. 1.30% of the stock is owned by insiders.

Quanta Services Stock Down 2.3 %

Shares of NYSE:PWR opened at $248.89 on Tuesday. The firm has a 50 day simple moving average of $239.68 and a 200-day simple moving average of $207.35. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82. 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 $36.28 billion, a PE ratio of 49.68 and a beta of 1.11.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results 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 firm 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 period in the previous year, the company earned $1.54 earnings per share. On average, equities analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.14%. The ex-dividend date is Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is 7.19%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PWR. Truist Financial began coverage on shares of Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective for the company. 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 for the company. Stifel Nicolaus upped their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. The Goldman Sachs Group lifted their target price on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Citigroup upped their price target on Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $239.54.

About Quanta Services

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.