Cwm LLC Acquires 690 Shares of Quanta Services, Inc. (NYSE:PWR)

Cwm LLC boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 16.6% during the fourth quarter, HoldingsChannel reports. The fund owned 4,843 shares of the construction company’s stock after purchasing an additional 690 shares during the quarter. Cwm LLC’s holdings in Quanta Services were worth $1,045,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Quanta Services by 1.1% during the 3rd quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock worth $791,171,000 after acquiring an additional 44,141 shares during the last quarter. Morgan Stanley grew its holdings in Quanta Services by 3.3% during the 3rd quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock worth $288,086,000 after acquiring an additional 49,602 shares during the last quarter. Northern Trust Corp grew its holdings in Quanta Services by 3.9% during the 3rd quarter. Northern Trust Corp now owns 1,452,347 shares of the construction company’s stock worth $271,691,000 after acquiring an additional 54,268 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Quanta Services by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,412,589 shares of the construction company’s stock worth $264,253,000 after acquiring an additional 40,233 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of Quanta Services by 0.5% in the 3rd quarter. UBS Group AG now owns 947,689 shares of the construction company’s stock valued at $177,284,000 after purchasing an additional 4,800 shares during the last quarter. 90.49% of the stock is owned by institutional investors.

Quanta Services Stock Performance

PWR opened at $261.66 on Monday. The company’s fifty day moving average price is $246.91 and its two-hundred day moving average price is $211.87. The company has a market cap of $38.30 billion, a price-to-earnings ratio of 52.23 and a beta of 1.11. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $265.82.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share (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 16.46%. The business had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter last year, the company posted $1.54 earnings per share. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. On average, analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio is presently 7.19%.

Insiders Place Their Bets

In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the 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 transaction, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the 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 transaction, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Wayne sold 8,842 shares of the stock in a transaction dated Monday, March 4th. The stock was 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 owns 44,129 shares of the company’s stock, valued at approximately $10,691,132.83. The disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock worth $11,270,215 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PWR. KeyCorp began coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Stifel Nicolaus upped their price objective 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. Truist Financial began coverage on shares of Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective on the stock. DA Davidson upped their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group increased their target price on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $247.67.

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.