Carnegie Capital Asset Management LLC Acquires 325 Shares of Quanta Services, Inc. (NYSE:PWR)

Carnegie Capital Asset Management LLC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 24.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,650 shares of the construction company’s stock after buying an additional 325 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Quanta Services were worth $356,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Quanta Services during the fourth quarter valued at approximately $180,853,000. Nordea Investment Management AB lifted its holdings in Quanta Services by 8,297.7% during the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after purchasing an additional 901,548 shares in the last quarter. Royal Bank of Canada lifted its holdings in Quanta Services by 52.2% during the first quarter. Royal Bank of Canada now owns 1,492,323 shares of the construction company’s stock valued at $196,405,000 after purchasing an additional 511,508 shares in the last quarter. Deutsche Bank AG lifted its holdings in Quanta Services by 113.7% during the first quarter. Deutsche Bank AG now owns 643,054 shares of the construction company’s stock valued at $107,159,000 after purchasing an additional 342,100 shares in the last quarter. Finally, CI Private Wealth LLC purchased a new position in Quanta Services during the fourth quarter valued at approximately $42,168,000. 90.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Quanta Services

In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated 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 transaction, 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 document filed with the SEC, which is available at the SEC website. In other news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated 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 transaction, 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 document filed with the SEC, which is available at the SEC website. Also, EVP Donald Wayne sold 8,842 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $242.27, for a total transaction of $2,142,151.34. Following the completion of the transaction, the executive vice president now owns 44,129 shares in the company, valued at $10,691,132.83. 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 quarter. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PWR. Stifel Nicolaus lifted their price target on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. DA Davidson boosted their target price on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Citigroup boosted their target price on shares of Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Evercore ISI initiated coverage on shares of Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. Finally, TD Cowen boosted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $239.54.

Quanta Services Trading Down 1.1 %

PWR stock opened at $245.97 on Thursday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82. The stock has a market capitalization of $36.01 billion, a price-to-earnings ratio of 49.10 and a beta of 1.11. The firm’s fifty day simple moving average is $241.27 and its two-hundred day simple moving average is $208.05.

Quanta Services (NYSE:PWR) last posted 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. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the business posted $1.54 earnings per share. The business’s revenue was up 31.0% compared to the same quarter last year. As a group, analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.15%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is 7.19%.

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.