Paradigm Financial Partners LLC Raises Stock Position in Quanta Services, Inc. (NYSE:PWR)

Paradigm Financial Partners LLC lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,579 shares of the construction company’s stock after acquiring an additional 1,024 shares during the quarter. Paradigm Financial Partners LLC’s holdings in Quanta Services were worth $3,794,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Carnegie Capital Asset Management LLC boosted its stake in Quanta Services by 24.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock valued at $356,000 after acquiring an additional 325 shares in the last quarter. Gradient Investments LLC boosted its stake in Quanta Services by 669,187.5% in the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock valued at $11,555,000 after acquiring an additional 53,535 shares in the last quarter. Saxon Interests Inc. acquired a new stake in Quanta Services in the fourth quarter valued at approximately $1,352,000. Nordea Investment Management AB increased its holdings in Quanta Services by 8,297.7% in the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after buying an additional 901,548 shares in the last quarter. Finally, Bourgeon Capital Management LLC purchased a new position in Quanta Services in the fourth quarter valued at $4,085,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Donald Wayne sold 1,101 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total value of $288,395.94. Following the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the company’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 completion of the transaction, 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. Insiders have sold 47,125 shares of company stock worth $11,270,215 in the last ninety days. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. DA Davidson boosted their target price on shares of Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Stifel Nicolaus boosted their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Evercore ISI assumed coverage on shares of Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price for the company. Truist Financial assumed coverage on shares of Quanta Services in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. Finally, Citigroup boosted their target price 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. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $247.67.

Quanta Services Price Performance

PWR traded up $6.47 on Friday, reaching $261.66. 1,180,022 shares of the company’s stock were exchanged, compared to its average volume of 783,667. The stock has a market cap of $38.30 billion, a PE ratio of 52.23 and a beta of 1.11. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82. The stock’s fifty day moving average price is $246.91 and its 200-day moving average price is $211.87. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. Quanta Services’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.54 EPS. Sell-side 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. Shareholders 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 0.14%. Quanta Services’s payout ratio is 7.19%.

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.