Flputnam Investment Management Co. Takes Position in Quanta Services, Inc. (NYSE:PWR)

Flputnam Investment Management Co. bought a new stake in Quanta Services, Inc. (NYSE:PWR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,196 shares of the construction company’s stock, valued at approximately $474,000.

Other hedge funds have also modified their holdings of the company. 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 buying an additional 68 shares during the last quarter. Perkins Coie Trust Co acquired a new stake in shares of Quanta Services in the third quarter valued at about $30,000. Hazlett Burt & Watson Inc. raised its position in shares of 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 buying an additional 52 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $26,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Quanta Services by 1,730.0% in the third quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock valued at $34,000 after purchasing an additional 173 shares during the period. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Quanta Services Stock Down 1.1 %

Shares of PWR opened at $245.97 on Thursday. The stock has a market capitalization of $36.01 billion, a PE ratio of 49.10 and a beta of 1.11. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company’s 50-day simple moving average is $241.27 and its 200-day simple moving average is $208.05.

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, topping the consensus estimate of $1.83 by $0.21. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The business’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 earnings per share. Analysts forecast that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a $0.09 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.15%. Quanta Services’s dividend payout ratio (DPR) is 7.19%.

Insider Activity at Quanta Services

In related news, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total value of $2,271,531.32. Following the sale, the director now owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Quanta Services news, Director Margaret B. Shannon sold 8,515 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the sale, the director now owns 34,063 shares of the company’s stock, valued at $8,172,394.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the firm’s stock in a transaction that occurred 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 directly owns 7,486 shares in the company, valued at approximately $1,776,502.66. 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 90 days. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PWR has been the subject of a number of analyst reports. 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 report on Wednesday, February 28th. The Goldman Sachs Group upped their price objective 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. Truist Financial initiated coverage on shares of Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective for the company. Evercore ISI initiated coverage on shares of Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective for the company. Finally, Citigroup upped their price objective on shares of Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a report on Friday, January 26th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and an average target price of $239.54.

About Quanta Services

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.