Russell Investments Group Ltd. Acquires 10,071 Shares of Quanta Services, Inc. (NYSE:PWR)

Russell Investments Group Ltd. boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 18.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,464 shares of the construction company’s stock after acquiring an additional 10,071 shares during the period. Russell Investments Group Ltd.’s holdings in Quanta Services were worth $13,714,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Truist Financial Corp raised its holdings in Quanta Services by 2.2% during the fourth quarter. Truist Financial Corp now owns 432,810 shares of the construction company’s stock worth $93,400,000 after acquiring an additional 9,421 shares in the last quarter. Carnegie Capital Asset Management LLC raised its holdings in 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 acquiring an additional 325 shares in the last quarter. Gradient Investments LLC raised its holdings in Quanta Services by 669,187.5% during the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock worth $11,555,000 after acquiring an additional 53,535 shares in the last quarter. Saxon Interests Inc. bought a new stake in Quanta Services during the fourth quarter worth about $1,352,000. Finally, Nordea Investment Management AB raised its holdings in Quanta Services by 8,297.7% during the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock worth $196,205,000 after acquiring an additional 901,548 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Insider Activity at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction that occurred on 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 $62,476,452.50. The sale was disclosed in a filing with the SEC, which is available at this link. In other Quanta Services news, EVP Derrick A. Jensen sold 18,500 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald Wayne sold 8,842 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $242.27, for a total value of $2,142,151.34. Following the sale, the executive vice president now owns 44,129 shares of the company’s stock, valued at $10,691,132.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PWR. 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 report on Friday. Evercore ISI began coverage on Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target on the stock. Citigroup boosted their price target on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. DA Davidson boosted their price target on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, TD Cowen boosted their price target on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Three equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.85.

Quanta Services Trading Up 0.5 %

Shares of PWR stock opened at $256.33 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.44 and a debt-to-equity ratio of 0.50. The stock has a market cap of $37.52 billion, a P/E ratio of 49.68 and a beta of 1.10. The stock has a 50 day simple moving average of $250.69 and a 200 day simple moving average of $214.68. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 earnings per share. On average, research analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) 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.