Cerity Partners LLC Boosts Stock Position in Quanta Services, Inc. (NYSE:PWR)

Cerity Partners LLC lifted its position in shares of Quanta Services, Inc. (NYSE:PWR) by 301.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,504 shares of the construction company’s stock after purchasing an additional 4,134 shares during the period. Cerity Partners LLC’s holdings in Quanta Services were worth $1,188,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. ICA Group Wealth Management LLC purchased a new stake in shares of Quanta Services during the fourth quarter worth about $26,000. Coppell Advisory Solutions Corp. purchased a new stake in Quanta Services in the fourth quarter worth about $28,000. Grove Bank & Trust lifted its holdings in 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 buying an additional 68 shares during the period. Geneos Wealth Management Inc. lifted its holdings in 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 during the period. Finally, Hazlett Burt & Watson Inc. lifted its holdings in Quanta Services by 47.3% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after buying an additional 52 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. Insiders own 1.20% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE PWR opened at $243.26 on Monday. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82. The firm has a market cap of $35.61 billion, a P/E ratio of 48.55 and a beta of 1.11. The company has a 50 day moving average of $242.69 and a 200 day moving average of $209.31. 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 (NYSE:PWR) last announced its 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 business 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 company’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 EPS. As a group, research analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on PWR shares. Evercore ISI started coverage on shares of Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective for the company. KeyCorp started coverage on shares of Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. The Goldman Sachs Group raised their target price on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $239.54.

Quanta Services 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.