Ninepoint Partners LP Boosts Stake in Quanta Services, Inc. (NYSE:PWR)

Ninepoint Partners LP lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 53.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,031 shares of the construction company’s stock after buying an additional 3,490 shares during the period. Quanta Services makes up 0.2% of Ninepoint Partners LP’s holdings, making the stock its 14th biggest position. Ninepoint Partners LP’s holdings in Quanta Services were worth $2,165,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PWR. Hazlett Burt & Watson Inc. increased its position in Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock worth $34,000 after purchasing an additional 52 shares during the last quarter. Central Bank & Trust Co. increased its position in Quanta Services by 2.1% during the fourth quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock worth $700,000 after purchasing an additional 66 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Quanta Services by 0.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,511 shares of the construction company’s stock worth $2,340,000 after purchasing an additional 67 shares during the last quarter. Czech National Bank increased its position in Quanta Services by 0.3% during the fourth quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock worth $5,491,000 after purchasing an additional 67 shares during the last quarter. Finally, Gray Wealth Management Inc. increased its position in Quanta Services by 6.2% during the third quarter. Gray Wealth Management Inc. now owns 1,168 shares of the construction company’s stock worth $218,000 after purchasing an additional 68 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Down 0.2 %

Shares of NYSE:PWR traded down $0.42 during trading hours on Friday, reaching $245.26. The stock had a trading volume of 417,819 shares, compared to its average volume of 917,607. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82. The firm’s 50 day moving average is $242.03 and its 200-day moving average is $208.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The stock has a market capitalization of $35.90 billion, a price-to-earnings ratio of 49.04 and a beta of 1.11.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the business posted $1.54 EPS. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. Research analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

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. 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 payout ratio is currently 7.19%.

Insiders Place Their Bets

In other Quanta Services 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 transaction of $2,271,531.32. Following the completion of the transaction, the director now owns 7,486 shares in the company, valued at approximately $1,776,502.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,125 shares of company stock worth $11,270,215. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PWR shares. Evercore ISI assumed coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective for the company. Stifel Nicolaus boosted their price target 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. Citigroup boosted their price target on shares of Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Truist Financial assumed coverage on shares of Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target 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. Three equities 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, Quanta Services has an average rating of “Moderate Buy” and an average price target of $239.54.

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.