Institute for Wealth Management LLC. Acquires 205 Shares of Quanta Services, Inc. (NYSE:PWR)

Institute for Wealth Management LLC. grew its holdings in Quanta Services, Inc. (NYSE:PWR) by 9.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,332 shares of the construction company’s stock after buying an additional 205 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Quanta Services were worth $503,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PWR. Carnegie Capital Asset Management LLC increased its position in shares of 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 valued at $356,000 after buying an additional 325 shares during the period. Gradient Investments LLC raised its position in shares of Quanta Services by 669,187.5% in the 4th 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. purchased a new position in shares of Quanta Services in the 4th quarter valued at approximately $1,352,000. Nordea Investment Management AB boosted its position in shares of 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 valued at $196,205,000 after purchasing an additional 901,548 shares in the last quarter. Finally, Bourgeon Capital Management LLC purchased a new stake in Quanta Services in the fourth quarter worth $4,085,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Trading Down 1.0 %

Quanta Services stock opened at $243.26 on Friday. The stock has a 50-day moving average price of $242.69 and a 200 day moving average price of $208.77. The company has a market capitalization of $35.61 billion, a price-to-earnings ratio of 48.55 and a beta of 1.11. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $265.82. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the business posted $1.54 EPS. The company’s revenue was up 31.0% on a year-over-year basis. Sell-side analysts anticipate 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. Shareholders of record on Tuesday, April 9th were issued 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 0.15%. Quanta Services’s payout ratio is currently 7.19%.

Insider Activity

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Quanta Services news, Director Margaret B. Shannon sold 8,515 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $239.92, for a total value of $2,042,918.80. Following the transaction, the director now directly owns 34,063 shares in the company, valued at approximately $8,172,394.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald Wayne sold 1,101 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at $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 over the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PWR. Stifel Nicolaus lifted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a report on Friday, February 23rd. DA Davidson increased their target price on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Citigroup upped their price target on shares of Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Evercore ISI initiated coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective for the company. Finally, TD Cowen upped their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.54.

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.