Retirement Systems of Alabama Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Retirement Systems of Alabama acquired a new stake in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, Holdings Channel.com reports. The firm acquired 32,020 shares of the construction company’s stock, valued at approximately $6,910,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PWR. Grove Bank & Trust raised its position in shares of Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after purchasing an additional 68 shares during the period. Hazlett Burt & Watson Inc. grew its stake in Quanta Services by 47.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after buying an additional 52 shares during the last quarter. Valley National Advisers Inc. bought a new position in Quanta Services in the 4th quarter worth $41,000. NBC Securities Inc. acquired a new position in Quanta Services during the 3rd quarter worth $36,000. Finally, Planned Solutions Inc. bought a new stake in Quanta Services during the fourth quarter valued at about $43,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PWR shares. B. Riley boosted their price objective on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird increased their price objective on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research report on Friday. DA Davidson boosted their target price on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group increased 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. Finally, TD Cowen boosted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $255.85.

Insider Buying and Selling

In other 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 transaction of $2,271,531.32. Following the sale, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction dated 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 approximately $1,776,502.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $288,395.94. Following the completion of the sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. 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 in the last three months. Insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of PWR stock opened at $256.33 on Friday. The stock’s fifty day simple moving average is $250.69 and its 200 day simple moving average is $214.68. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $265.82. The firm has a market cap of $37.52 billion, a price-to-earnings ratio of 49.68 and a beta of 1.10. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 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 EPS for the quarter, beating the consensus estimate of $1.83 by $0.21. The company 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 16.25%. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.54 EPS. On average, analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were issued 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 was Monday, April 8th. Quanta Services’s payout ratio is currently 6.98%.

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.