Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Sycomore Asset Management

Sycomore Asset Management increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 14.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 23,325 shares of the construction company’s stock after buying an additional 3,028 shares during the period. Quanta Services comprises approximately 1.1% of Sycomore Asset Management’s holdings, making the stock its 28th biggest position. Sycomore Asset Management’s holdings in Quanta Services were worth $5,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PWR. Nordea Investment Management AB boosted its holdings in shares of Quanta Services by 8,297.7% in the 4th 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 during the period. Qube Research & Technologies Ltd grew its position in Quanta Services by 1,494.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 304,126 shares of the construction company’s stock worth $56,893,000 after purchasing an additional 285,047 shares during the last quarter. Scout Investments Inc. increased its stake in shares of Quanta Services by 20.3% in the third quarter. Scout Investments Inc. now owns 921,186 shares of the construction company’s stock valued at $162,718,000 after purchasing an additional 155,586 shares during the period. Ceredex Value Advisors LLC bought a new stake in shares of Quanta Services during the fourth quarter valued at approximately $31,730,000. Finally, Trust Point Inc. acquired a new position in shares of Quanta Services during the fourth quarter worth approximately $28,072,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of recent analyst reports. TD Cowen increased their price objective on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Stifel Nicolaus increased their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Citigroup increased their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday. Truist Financial initiated coverage on Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective for the company. Finally, Evercore ISI initiated coverage on Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.23.

Insider Transactions at Quanta Services

In other news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s 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 approximately $62,476,452.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other 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 value of $4,382,650.00. Following the completion of the sale, the executive vice president now owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Wayne sold 595 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of the sale, the executive vice president now owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The disclosure for this sale can be found here. Insiders sold a total of 47,125 shares of company stock valued at $11,270,215 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Price Performance

NYSE PWR traded up $1.14 on Wednesday, reaching $253.09. 1,027,712 shares of the stock traded hands, compared to its average volume of 924,762. The firm’s fifty day simple moving average is $244.27 and its 200 day simple moving average is $210.41. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The company has a market cap of $37.05 billion, a price-to-earnings ratio of 50.54 and a beta of 1.11. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $265.82.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period last year, the company posted $1.54 EPS. As a group, research analysts predict that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio is presently 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.