Independent Advisor Alliance Has $1.55 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Independent Advisor Alliance raised its holdings in Quanta Services, Inc. (NYSE:PWRFree Report) by 102.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 7,182 shares of the construction company’s stock after acquiring an additional 3,641 shares during the quarter. Independent Advisor Alliance’s holdings in Quanta Services were worth $1,550,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PWR. Hazlett Burt & Watson Inc. lifted its stake in Quanta Services by 47.3% in the fourth 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 during the last quarter. NBC Securities Inc. acquired a new stake in Quanta Services in the third quarter valued at approximately $36,000. Valley National Advisers Inc. acquired a new stake in Quanta Services in the fourth quarter valued at approximately $41,000. Vestor Capital LLC acquired a new stake in Quanta Services in the fourth quarter valued at approximately $42,000. Finally, Planned Solutions Inc. acquired a new stake in Quanta Services in the fourth quarter valued at approximately $43,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on PWR shares. DA Davidson upped their price objective on shares of Quanta Services from $225.00 to $250.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th. B. Riley increased their target price on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Truist Financial reaffirmed a “buy” rating and issued a $305.00 price target (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. TD Cowen raised 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. Finally, Stifel Nicolaus upped their target price 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. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $262.00.

Get Our Latest Stock Report on Quanta Services

Insiders Place Their Bets

In related news, EVP Donald Wayne sold 1,101 shares of the firm’s 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 sale, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Margaret B. Shannon sold 8,515 shares of Quanta Services stock in a transaction that occurred on Friday, March 1st. The shares were 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 directly owns 34,063 shares in the company, valued at $8,172,394.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. 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. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 0.2 %

PWR stock traded up $0.58 during trading on Friday, hitting $264.40. The company had a trading volume of 795,648 shares, compared to its average volume of 989,166. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $255.96 and a 200-day moving average price of $221.67. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $273.00. The stock has a market cap of $38.71 billion, a price-to-earnings ratio of 51.24 and a beta of 1.10.

Quanta Services (NYSE:PWRGet Free Report) last released its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business earned $1.54 EPS. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. As a group, analysts predict that Quanta Services, Inc. will post 7.68 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors 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 currently 6.98%.

About Quanta Services

(Free Report)

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.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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