Adell Harriman & Carpenter Inc. Boosts Position in Quanta Services, Inc. (NYSE:PWR)

Adell Harriman & Carpenter Inc. lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 117,026 shares of the construction company’s stock after acquiring an additional 5,293 shares during the period. Quanta Services accounts for about 2.3% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 10th largest position. Adell Harriman & Carpenter Inc. owned approximately 0.08% of Quanta Services worth $25,254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Grove Bank & Trust increased its stake in Quanta Services by 75.6% during the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after purchasing an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its position in Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares in the last quarter. NBC Securities Inc. acquired a new position in Quanta Services during the 3rd quarter valued at about $36,000. Valley National Advisers Inc. bought a new stake in Quanta Services during the 4th quarter worth approximately $41,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Quanta Services in the fourth quarter worth approximately $43,000. 90.49% of the stock is owned by institutional investors.

Quanta Services Trading Up 0.3 %

PWR traded up $0.68 on Monday, hitting $262.34. 884,527 shares of the company were exchanged, compared to its average volume of 923,464. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $265.82. The firm has a fifty day simple moving average of $246.91 and a two-hundred day simple moving average of $212.10. The stock has a market capitalization of $38.40 billion, a PE ratio of 52.23 and a beta of 1.11.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating 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 business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the company posted $1.54 EPS. Quanta Services’s quarterly revenue was up 31.0% compared to the same quarter last year. Sell-side analysts expect 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. Stockholders of record on Tuesday, April 9th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio is presently 7.19%.

Insider Buying and Selling

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald Wayne sold 8,842 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $242.27, for a total transaction of $2,142,151.34. Following the transaction, the executive vice president now directly owns 44,129 shares of the company’s stock, valued at $10,691,132.83. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock worth $11,270,215 in the last three months. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on PWR shares. DA Davidson raised their price objective on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. KeyCorp began coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company. Truist Financial began coverage on Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. The Goldman Sachs Group lifted their price target on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, Citigroup raised their target price on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Three 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $247.67.

About Quanta Services

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.