Cannell & Co. Has $27.86 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Cannell & Co. lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 16.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,078 shares of the construction company’s stock after acquiring an additional 18,077 shares during the period. Cannell & Co. owned approximately 0.09% of Quanta Services worth $27,855,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. AE Wealth Management LLC lifted its stake in shares of Quanta Services by 22.0% during the 3rd quarter. AE Wealth Management LLC now owns 1,593 shares of the construction company’s stock valued at $298,000 after buying an additional 287 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Quanta Services by 9.8% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,150 shares of the construction company’s stock valued at $5,453,000 after purchasing an additional 2,600 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Quanta Services by 86.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 30,646 shares of the construction company’s stock worth $5,733,000 after acquiring an additional 14,241 shares during the last quarter. Xponance Inc. grew its holdings in Quanta Services by 1.7% in the 3rd quarter. Xponance Inc. now owns 21,699 shares of the construction company’s stock worth $4,059,000 after acquiring an additional 366 shares during the last quarter. Finally, Wells Trecaso Financial Group LLC lifted its position in shares of Quanta Services by 13.7% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 27,428 shares of the construction company’s stock worth $5,131,000 after purchasing an additional 3,300 shares during the period. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Citigroup lifted their price target on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Evercore ISI started coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price for the company. TD Cowen boosted their target price on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Finally, DA Davidson upped their price target 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. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.67.

Insider Buying and Selling at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the 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 of the company’s stock, valued at $62,476,452.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the completion of the sale, the director now owns 7,486 shares in the company, valued at approximately $1,776,502.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Derrick A. Jensen sold 18,500 shares of Quanta Services stock in a transaction dated Tuesday, February 27th. The shares were 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 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 47,125 shares of company stock worth $11,270,215 over the last three months. Insiders own 1.10% of the company’s stock.

Quanta Services Trading Down 1.2 %

Shares of NYSE PWR traded down $3.05 during trading on Wednesday, hitting $255.51. 393,680 shares of the company were exchanged, compared to its average volume of 918,174. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month 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 has a fifty day moving average price of $248.91 and a 200-day moving average price of $213.29. The firm has a market capitalization of $37.40 billion, a PE ratio of 51.60 and a beta of 1.11.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, beating 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 company had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the company posted $1.54 earnings per share. Quanta Services’s revenue for the quarter was up 31.0% compared to the same quarter last year. As a group, equities research analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current 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 paid 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 dividend yield of 0.14%. Quanta Services’s payout ratio is 7.19%.

Quanta Services Company 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.