Verity & Verity LLC Takes Position in Quanta Services, Inc. (NYSE:PWR)

Verity & Verity LLC bought a new stake in shares of Quanta Services, Inc. (NYSE:PWR – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,300 shares of the construction company’s stock, valued at approximately $755,000.

Other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. boosted its stake in shares of Quanta Services by 52.9% during the second quarter. Franklin Resources Inc. now owns 900,611 shares of the construction company’s stock valued at $112,884,000 after purchasing an additional 311,496 shares during the period. Stephens Inc. AR boosted its stake in shares of Quanta Services by 7.0% during the third quarter. Stephens Inc. AR now owns 3,755 shares of the construction company’s stock valued at $478,000 after purchasing an additional 246 shares during the period. Greenleaf Trust lifted its stake in Quanta Services by 1.9% in the third quarter. Greenleaf Trust now owns 5,547 shares of the construction company’s stock worth $707,000 after acquiring an additional 106 shares during the period. Korea Investment CORP purchased a new stake in Quanta Services in the second quarter worth about $5,766,000. Finally, Advisors Asset Management Inc. lifted its stake in Quanta Services by 13.3% in the third quarter. Advisors Asset Management Inc. now owns 63,536 shares of the construction company’s stock worth $8,094,000 after acquiring an additional 7,458 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Donald Wayne sold 14,476 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $162.89, for a total value of $2,357,995.64. Following the transaction, the executive vice president now owns 49,647 shares in the company, valued at approximately $8,086,999.83. The sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Quanta Services Stock Performance

PWR opened at $155.10 on Friday. Quanta Services, Inc. has a 52-week low of $106.33 and a 52-week high of $168.75. The company has a quick ratio of 1.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.68. The company has a market cap of $22.33 billion, a P/E ratio of 46.72 and a beta of 1.08. The firm’s 50-day moving average price is $153.21 and its 200-day moving average price is $145.14.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Quanta Services from $157.00 to $173.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. DA Davidson upped their price objective on shares of Quanta Services from $140.00 to $160.00 in a research note on Friday, February 24th. Cowen boosted their target price on shares of Quanta Services from $155.00 to $165.00 in a report on Tuesday, December 27th. Citigroup boosted their target price on shares of Quanta Services from $161.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, December 9th. Finally, UBS Group boosted their target price on shares of Quanta Services to $170.00 in a report on Monday, November 21st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $166.25.

Quanta Services Profile

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Quanta Services, Inc engages in the provision of comprehensive infrastructure solutions to the electric power, oil and gas, and communication industries. It operates through the following segments: Electric Power Infrastructure Solutions, Renewable Energy Infrastructure Solutions, and Underground Utility and Infrastructure Solutions.