Forte Capital LLC ADV Invests $1.11 Million in Quanta Services, Inc. (NYSE:PWR)

Forte Capital LLC ADV purchased a new stake in Quanta Services, Inc. (NYSE:PWR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,142 shares of the construction company’s stock, valued at approximately $1,110,000.

Other hedge funds have also recently modified their holdings of the company. FMR LLC raised its position in shares of Quanta Services by 1.1% in the third quarter. FMR LLC now owns 4,229,280 shares of the construction company’s stock worth $791,171,000 after acquiring an additional 44,141 shares during the period. Morgan Stanley boosted its position in Quanta Services by 3.3% during the third quarter. Morgan Stanley now owns 1,539,987 shares of the construction company’s stock worth $288,086,000 after purchasing an additional 49,602 shares in the last quarter. Northern Trust Corp increased its position in shares of Quanta Services by 3.9% in the third quarter. Northern Trust Corp now owns 1,452,347 shares of the construction company’s stock valued at $271,691,000 after buying an additional 54,268 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Quanta Services by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,412,589 shares of the construction company’s stock valued at $264,253,000 after purchasing an additional 40,233 shares in the last quarter. Finally, UBS Group AG boosted its holdings in Quanta Services by 0.5% in the 3rd quarter. UBS Group AG now owns 947,689 shares of the construction company’s stock worth $177,284,000 after buying an additional 4,800 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 0.5 %

Shares of PWR traded up $1.33 during midday trading on Friday, hitting $256.33. 970,817 shares of the stock were exchanged, compared to its average volume of 893,668. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.44 and a current ratio of 1.36. The firm has a market cap of $37.52 billion, a P/E ratio of 49.68 and a beta of 1.10. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $265.82. The stock has a fifty day simple moving average of $250.69 and a 200 day simple moving average of $214.43.

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. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. Quanta Services’s revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 EPS. On average, research analysts anticipate that Quanta Services, Inc. will post 7.63 EPS for the current fiscal 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 paid a $0.09 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is 6.98%.

Insider Transactions at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the business’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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. TD Cowen raised their price target 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. The Goldman Sachs Group upped their price target on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Citigroup boosted their price objective on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. B. Riley lifted their price target on Quanta Services from $246.00 to $286.00 and gave the stock a “buy” rating in a report on Friday. Finally, KeyCorp initiated coverage on shares of Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and an average price target of $255.85.

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.