Fielder Capital Group LLC Takes Position in Quanta Services, Inc. (NYSE:PWR)

Fielder Capital Group LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,746 shares of the construction company’s stock, valued at approximately $377,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Truist Financial Corp boosted its holdings in shares of Quanta Services by 2.2% in the 4th quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock valued at $93,400,000 after buying an additional 9,421 shares in the last quarter. Carnegie Capital Asset Management LLC increased its position in shares of Quanta Services by 24.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock worth $356,000 after purchasing an additional 325 shares in the last quarter. Gradient Investments LLC lifted its holdings in shares of Quanta Services by 669,187.5% during the 4th quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock valued at $11,555,000 after purchasing an additional 53,535 shares during the last quarter. Saxon Interests Inc. purchased a new position in Quanta Services during the 4th quarter worth $1,352,000. Finally, Nordea Investment Management AB increased its position in Quanta Services by 8,297.7% during the 4th quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after buying an additional 901,548 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Robert W. Baird boosted their price target on Quanta Services from $265.00 to $287.00 and gave the stock an “outperform” rating in a research note on Friday. TD Cowen lifted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Truist Financial reissued a “buy” rating and issued a $305.00 target price (up from $301.00) on shares of Quanta Services in a research report on Monday. 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 research report on Monday, February 26th. Finally, Evercore ISI increased their price objective on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and a consensus target price of $262.00.

Quanta Services Stock Performance

Shares of NYSE PWR traded down $2.62 during midday trading on Tuesday, reaching $266.88. 1,108,470 shares of the stock were exchanged, compared to its average volume of 941,817. The firm has a 50-day simple moving average of $251.36 and a two-hundred day simple moving average of $215.69. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $271.96. The firm has a market cap of $39.07 billion, a price-to-earnings ratio of 52.19 and a beta of 1.10. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The business 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 16.25%. The company’s revenue was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.54 earnings per share. As a group, analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business 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. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio is presently 6.98%.

Insider Activity

In related news, 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 value of $2,271,531.32. Following the transaction, the director now directly owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the sale, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. 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 90 days. 1.10% of the stock is currently owned by company insiders.

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.