Flputnam Investment Management Co. Buys Shares of 2,196 Quanta Services, Inc. (NYSE:PWR)

Flputnam Investment Management Co. bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, Holdings Channel.com reports. The firm bought 2,196 shares of the construction company’s stock, valued at approximately $474,000.

Other large investors also recently modified their holdings of the company. ICA Group Wealth Management LLC acquired a new position in shares of Quanta Services during the fourth quarter valued at $26,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Quanta Services during the fourth quarter valued at $28,000. Perkins Coie Trust Co acquired a new position in shares of Quanta Services during the third quarter valued at $30,000. Grove Bank & Trust increased its holdings in shares of Quanta Services by 75.6% during 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. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Quanta Services by 1,730.0% during 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 owned by institutional investors and hedge funds.

Quanta Services Trading Down 1.1 %

Shares of PWR opened at $245.97 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58. The business’s 50-day moving average price is $241.27 and its 200 day moving average price is $208.05. The stock has a market capitalization of $36.01 billion, a P/E 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.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 EPS for the quarter, topping 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 return on equity of 16.46% and a net margin of 3.57%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.54 EPS. Analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.15%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio is currently 7.19%.

Analyst Upgrades and Downgrades

PWR has been the topic of a number of research analyst reports. Citigroup raised their price target on Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a report on Friday, January 26th. KeyCorp assumed coverage on Quanta Services in a report on Wednesday, January 10th. They set a “sector weight” rating on the stock. The Goldman Sachs Group lifted their target price on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Stifel Nicolaus lifted their target price on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Truist Financial assumed coverage on Quanta Services in a report on Thursday, March 14th. They set a “buy” rating and a $301.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.54.

Insider Activity

In other 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 transaction of $4,382,650.00. Following 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 document filed with the SEC, which is accessible through the SEC website. In other 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 transaction of $4,382,650.00. Following 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the business’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 in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.20% of the company’s stock.

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.