Prime Capital Investment Advisors LLC Invests $297,000 in Quanta Services, Inc. (NYSE:PWR)

Prime Capital Investment Advisors LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,377 shares of the construction company’s stock, valued at approximately $297,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Quanta Services by 1.2% in the first quarter. Vanguard Group Inc. now owns 15,363,311 shares of the construction company’s stock worth $2,021,965,000 after purchasing an additional 182,092 shares during the period. State Street Corp increased its stake in Quanta Services by 0.4% in the 1st quarter. State Street Corp now owns 4,758,029 shares of the construction company’s stock worth $626,204,000 after acquiring an additional 20,702 shares during the last quarter. FMR LLC raised its holdings in shares of Quanta Services by 1.1% in the 3rd quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock valued at $791,171,000 after acquiring an additional 44,141 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Quanta Services by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 3,025,017 shares of the construction company’s stock valued at $502,997,000 after acquiring an additional 53,317 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Quanta Services by 22.4% during the fourth quarter. Morgan Stanley now owns 1,579,601 shares of the construction company’s stock worth $225,093,000 after purchasing an additional 288,876 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PWR shares. DA Davidson lifted their target price on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Truist Financial began coverage on shares of Quanta Services in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price for the company. Citigroup raised their price target on Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research report on Friday, January 26th. KeyCorp began coverage on Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Finally, Stifel Nicolaus raised their price objective on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average price target of $239.54.

Insider Activity

In related news, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value 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 filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction that occurred 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 transaction, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The sale was disclosed in a legal 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 that occurred 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 completion of the sale, the executive vice president now directly owns 263,725 shares of the company’s stock, 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 valued at $11,270,215 over the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $254.70 on Friday. 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 $238.74 and its 200 day moving average is $206.66. The stock has a market cap of $37.12 billion, a price-to-earnings ratio of 50.84 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44.

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, topping the consensus estimate of $1.83 by $0.21. The firm had revenue of $5.78 billion for 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%. The business’s revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.54 earnings per share. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

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.