Twin Capital Management Inc. Acquires 7,192 Shares of Quanta Services, Inc. (NYSE:PWR)

Twin Capital Management Inc. increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 158.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,725 shares of the construction company’s stock after purchasing an additional 7,192 shares during the period. Twin Capital Management Inc.’s holdings in Quanta Services were worth $2,530,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PWR. Grove Bank & Trust raised its position in Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after buying an additional 68 shares during the last quarter. Perkins Coie Trust Co acquired a new stake in Quanta Services in the 3rd quarter valued at approximately $30,000. Hazlett Burt & Watson Inc. raised its position in Quanta Services by 47.3% in the 4th 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. ICA Group Wealth Management LLC acquired a new stake in Quanta Services in the 4th quarter valued at approximately $26,000. Finally, Geneos Wealth Management Inc. raised its position in Quanta Services by 1,730.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 183 shares of the construction company’s stock valued at $34,000 after buying an additional 173 shares during the last quarter. 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 stock in a transaction dated 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 of the company’s stock, valued at $62,476,452.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Derrick A. Jensen sold 18,500 shares of the firm’s stock in a transaction that occurred 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 owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Wayne sold 595 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total value of $142,567.95. Following the sale, the executive vice president now directly 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. Over the last quarter, insiders sold 47,125 shares of company stock valued at $11,270,215. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PWR. Stifel Nicolaus boosted their price target on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. DA Davidson boosted their price target on Quanta Services from $190.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Evercore ISI initiated coverage on Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price target on the stock. The Goldman Sachs Group boosted their target price on Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, Citigroup boosted their target price on Quanta Services from $234.00 to $237.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $239.54.

Quanta Services Price Performance

Shares of NYSE:PWR traded up $0.56 during trading on Thursday, reaching $246.52. 452,168 shares of the company traded hands, compared to its average volume of 915,376. The company’s 50 day moving average is $241.27 and its two-hundred day moving average is $208.05. The firm has a market capitalization of $36.09 billion, a PE ratio of 49.10 and a beta of 1.11. 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, Inc. has a 52 week low of $153.74 and a 52 week high of $265.82.

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, topping analysts’ consensus estimates of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were paid a $0.09 dividend. 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%.

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.