International Assets Investment Management LLC Raises Stock Position in Quanta Services, Inc. (NYSE:PWR)

International Assets Investment Management LLC grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 28,538.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,070 shares of the construction company’s stock after buying an additional 90,752 shares during the quarter. International Assets Investment Management LLC owned 0.06% of Quanta Services worth $19,653,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust raised its position in Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after purchasing an additional 68 shares during the period. Hazlett Burt & Watson Inc. lifted its stake in shares of 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 during the last quarter. NBC Securities Inc. purchased a new position in Quanta Services during the 3rd quarter valued at $36,000. Valley National Advisers Inc. bought a new position in Quanta Services in the 4th quarter valued at $41,000. Finally, Planned Solutions Inc. bought a new stake in shares of Quanta Services during the fourth quarter worth $43,000. Institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the sale, the director now directly owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction that occurred 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 transaction, the director now directly owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Donald Wayne sold 1,101 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock worth $11,270,215 over the last quarter. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of research reports. Truist Financial began coverage on shares of Quanta Services in a research report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. B. Riley raised their target price on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research report on Friday. Evercore ISI started 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 boosted their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group increased their target price on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $255.85.

Quanta Services Stock Performance

PWR opened at $256.33 on Friday. The firm’s 50-day moving average price is $250.69 and its 200-day moving average price is $214.68. The company has a market cap of $37.52 billion, a P/E ratio of 49.68 and a beta of 1.10. The company has a quick ratio of 1.44, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $265.82.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the company posted $1.54 earnings per share. The business’s quarterly revenue was up 31.0% on a year-over-year basis. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

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.