Vestor Capital LLC Takes $42,000 Position in Quanta Services, Inc. (NYSE:PWR)

Vestor Capital LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 196 shares of the construction company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Grove Bank & Trust boosted 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 acquiring an additional 68 shares during the period. Hazlett Burt & Watson Inc. boosted its holdings in shares of Quanta Services by 47.3% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after acquiring an additional 52 shares during the period. NBC Securities Inc. acquired a new position in shares of Quanta Services during the third quarter valued at $36,000. Valley National Advisers Inc. bought a new stake in shares of Quanta Services during the fourth quarter valued at about $41,000. Finally, Planned Solutions Inc. bought a new stake in shares of Quanta Services during the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Donald Wayne sold 1,101 shares of the business’s 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 sale, the executive vice president now owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 completion of the sale, the director now directly owns 7,486 shares of the company’s stock, 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 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Trading Up 2.1 %

NYSE PWR traded up $5.44 on Thursday, hitting $270.42. 1,012,920 shares of the company were exchanged, compared to its average volume of 943,098. The company’s 50 day moving average price is $253.02 and its 200-day moving average price is $217.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The firm has a market capitalization of $39.59 billion, a P/E ratio of 52.41 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $271.96.

Quanta Services (NYSE:PWR) last released 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. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. 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 previous year, the business posted $1.54 EPS. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. Analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th were paid a dividend of $0.09 per share. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Truist Financial restated a “buy” rating and set a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research note on Monday. KeyCorp assumed coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. TD Cowen lifted their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, Stifel Nicolaus lifted their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $262.00.

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.