Legacy Capital Wealth Partners LLC Makes New $271,000 Investment in Quanta Services, Inc. (NYSE:PWR)

Legacy Capital Wealth Partners LLC bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,257 shares of the construction company’s stock, valued at approximately $271,000.

A number of other hedge funds have also bought and sold shares of PWR. Grove Bank & Trust grew its position in shares of 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 acquiring an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of 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 period. NBC Securities Inc. acquired a new stake in shares of Quanta Services during the third quarter worth $36,000. Valley National Advisers Inc. acquired a new position in shares of Quanta Services in the 4th quarter valued at about $41,000. Finally, Planned Solutions Inc. bought a new stake in shares of Quanta Services during the 4th quarter valued at about $43,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Up 0.3 %

PWR opened at $262.33 on Tuesday. The stock’s fifty day moving average is $247.93 and its 200-day moving average is $212.69. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $265.82. The company has a market capitalization of $38.40 billion, a PE ratio of 52.36 and a beta of 1.11. 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 (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. Quanta Services’s revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.54 EPS. On average, equities analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were issued a $0.09 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio is currently 7.19%.

Analyst Ratings Changes

A number of brokerages have commented on PWR. DA Davidson lifted their target price on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Evercore ISI assumed coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. 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 report on Monday, February 26th. TD Cowen lifted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus upped their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $247.67.

Insider Activity

In other news, EVP Donald Wayne sold 595 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total transaction of $142,567.95. Following the sale, the executive vice president now directly owns 41,954 shares of the company’s stock, valued at $10,052,597.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Margaret B. Shannon sold 8,515 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $239.92, for a total value of $2,042,918.80. Following the completion of the sale, the director now owns 34,063 shares in the company, valued at $8,172,394.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Wayne sold 595 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following the transaction, the executive vice president now directly owns 41,954 shares in the company, valued at $10,052,597.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,125 shares of company stock worth $11,270,215. Insiders own 1.10% of the company’s stock.

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.