Premier Path Wealth Partners LLC Makes New $277,000 Investment in Quanta Services, Inc. (NYSE:PWR)

Premier Path Wealth Partners LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,067 shares of the construction company’s stock, valued at approximately $277,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PWR. Private Ocean LLC bought a new stake in shares of Quanta Services during the first quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. raised its position 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 buying an additional 52 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Quanta Services during the fourth quarter valued at approximately $34,000. NBC Securities Inc. bought a new stake in shares of Quanta Services during the third quarter valued at approximately $36,000. Finally, Valley National Advisers Inc. bought a new stake in shares of Quanta Services during the fourth quarter valued at approximately $41,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Down 0.3 %

NYSE PWR traded down $0.95 on Wednesday, hitting $271.10. 587,539 shares of the stock were exchanged, compared to its average volume of 928,395. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. The stock has a fifty day moving average price of $257.72 and a two-hundred day moving average price of $223.82. The firm has a market capitalization of $39.69 billion, a P/E ratio of 52.54 and a beta of 1.10. Quanta Services, Inc. has a 52-week low of $153.74 and a 52-week high of $274.13.

Quanta Services (NYSE:PWR) last issued its 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 net margin of 3.57% and a return on equity of 16.25%. The business’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 earnings per share. Research analysts forecast that Quanta Services, Inc. will post 7.68 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio is currently 6.98%.

Wall Street Analyst Weigh In

PWR has been the topic of several recent analyst reports. DA Davidson lifted their price objective on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Truist Financial reissued a “buy” rating and issued a $305.00 target price (up from $301.00) on shares of Quanta Services in a report on Monday, May 6th. Citigroup raised their target price on shares of Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Stifel Nicolaus raised 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. Finally, Robert W. Baird raised their target price on shares of Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $262.00.

Insider Activity

In other news, Director Worthing Jackman sold 9,572 shares of the business’s 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 $1,776,502.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Margaret B. Shannon sold 8,515 shares of Quanta Services stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $239.92, for a total value of $2,042,918.80. Following the completion of the sale, the director now directly owns 34,063 shares in the company, valued at $8,172,394.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of Quanta Services stock in a transaction dated 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 owns 7,486 shares of the company’s stock, valued at $1,776,502.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is currently owned by company insiders.

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.