abrdn plc Boosts Stock Position in Quanta Services, Inc. (NYSE:PWR)

abrdn plc grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 31.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,560 shares of the construction company’s stock after purchasing an additional 24,013 shares during the period. abrdn plc’s holdings in Quanta Services were worth $21,485,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. J.W. Cole Advisors Inc. grew its stake in Quanta Services by 1.8% in the 4th quarter. J.W. Cole Advisors Inc. now owns 4,608 shares of the construction company’s stock worth $994,000 after acquiring an additional 82 shares in the last quarter. Institute for Wealth Management LLC. raised its position in Quanta Services by 9.6% during the 4th quarter. Institute for Wealth Management LLC. now owns 2,332 shares of the construction company’s stock valued at $503,000 after purchasing an additional 205 shares in the last quarter. Ninepoint Partners LP lifted its holdings in shares of Quanta Services by 53.4% in the 4th quarter. Ninepoint Partners LP now owns 10,031 shares of the construction company’s stock worth $2,165,000 after buying an additional 3,490 shares during the period. Fidelis Capital Partners LLC increased its stake in shares of Quanta Services by 60.2% during the fourth quarter. Fidelis Capital Partners LLC now owns 2,322 shares of the construction company’s stock valued at $501,000 after buying an additional 873 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Quanta Services by 1.7% in the fourth quarter. Xponance Inc. now owns 22,076 shares of the construction company’s stock valued at $4,764,000 after acquiring an additional 377 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the topic of a number of research reports. Evercore ISI began coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price on the stock. DA Davidson upped their target price on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Truist Financial assumed coverage on Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. KeyCorp began coverage on Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. Finally, 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 research note on Monday, February 26th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $243.23.

Quanta Services Trading Up 2.6 %

NYSE:PWR opened at $251.95 on Wednesday. The firm has a fifty day simple moving average of $243.37 and a 200-day simple moving average of $209.86. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 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 $36.88 billion, a P/E ratio of 50.29 and a beta of 1.11.

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

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is presently 7.19%.

Insider Activity at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Margaret B. Shannon sold 8,515 shares of Quanta Services stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the transaction, the director now directly owns 34,063 shares of the company’s stock, valued at $8,172,394.96. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock worth $11,270,215 over the last three months. Company insiders own 1.10% of the company’s stock.

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.