Court Place Advisors LLC Invests $205,000 in Quanta Services, Inc. (NYSE:PWR)

Court Place Advisors LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 950 shares of the construction company’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PWR. Panagora Asset Management Inc. lifted its stake in Quanta Services by 79.1% during the 1st quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company’s stock valued at $1,509,000 after acquiring an additional 5,063 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Quanta Services by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,067 shares of the construction company’s stock valued at $2,509,000 after acquiring an additional 1,181 shares during the period. Great West Life Assurance Co. Can lifted its stake in Quanta Services by 2.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 26,648 shares of the construction company’s stock valued at $3,655,000 after acquiring an additional 668 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Quanta Services by 8.3% in the 1st quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company’s stock valued at $652,000 after purchasing an additional 379 shares during the period. Finally, Blair William & Co. IL lifted its stake in shares of Quanta Services by 21.7% in the 1st quarter. Blair William & Co. IL now owns 16,156 shares of the construction company’s stock valued at $2,126,000 after purchasing an additional 2,884 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity

In other news, EVP Derrick A. Jensen sold 18,500 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $236.90, for a total transaction of $4,382,650.00. Following the transaction, the executive vice president now owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Quanta Services news, EVP Donald Wayne sold 595 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following the transaction, the executive vice president now owns 41,954 shares of the company’s stock, valued at $10,052,597.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Derrick A. Jensen sold 18,500 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were 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 in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.20% of the stock is currently owned by insiders.

Quanta Services Price Performance

Shares of Quanta Services stock traded up $1.10 during trading hours on Thursday, reaching $247.06. 127,233 shares of the company’s stock were exchanged, compared to its average volume of 909,845. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82. The company has a market capitalization of $36.16 billion, a P/E ratio of 49.10 and a beta of 1.11. The business has a fifty day moving average of $241.27 and a two-hundred day moving average of $208.05. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58.

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

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $0.36 annualized dividend and a dividend yield of 0.15%. Quanta Services’s payout ratio is 7.19%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PWR. DA Davidson boosted their target price on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group boosted their target price 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. TD Cowen boosted their target price 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. KeyCorp started coverage on shares of Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Finally, Truist Financial started coverage on shares of Quanta Services in a report on Thursday, March 14th. They issued a “buy” rating and a $301.00 price target for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $239.54.

Quanta Services Company 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.