Bank OZK Raises Stock Position in Quanta Services, Inc. (NYSE:PWR)

Bank OZK boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 2.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,998 shares of the construction company’s stock after purchasing an additional 257 shares during the quarter. Bank OZK’s holdings in Quanta Services were worth $1,942,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Carnegie Capital Asset Management LLC increased its stake in Quanta Services by 24.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock worth $356,000 after buying an additional 325 shares in the last quarter. Gradient Investments LLC grew its position in shares of Quanta Services by 669,187.5% during the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock valued at $11,555,000 after purchasing an additional 53,535 shares in the last quarter. Saxon Interests Inc. purchased a new position in shares of Quanta Services during the fourth quarter valued at about $1,352,000. Nordea Investment Management AB grew its position in shares of Quanta Services by 8,297.7% during the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after purchasing an additional 901,548 shares in the last quarter. Finally, Bourgeon Capital Management LLC purchased a new position in shares of Quanta Services during the fourth quarter valued at about $4,085,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Donald Wayne sold 1,101 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $237.31, for a total value of $2,271,531.32. Following the transaction, the director now owns 7,486 shares in the company, valued at $1,776,502.66. The disclosure for this sale can be found here. In the last three months, insiders sold 47,125 shares of company stock valued at $11,270,215. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Up 2.5 %

NYSE PWR traded up $6.47 on Friday, reaching $261.66. 1,180,022 shares of the stock traded hands, compared to its average volume of 783,667. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company has a fifty day moving average price of $246.91 and a 200-day moving average price of $211.63. The company has a market cap of $38.30 billion, a price-to-earnings ratio of 52.25 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 earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.21. The business 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%. Quanta Services’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 EPS. As a group, research analysts forecast that Quanta Services, Inc. will post 7.63 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Stockholders of record on Tuesday, April 9th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.14%. The ex-dividend date was Monday, April 8th. Quanta Services’s payout ratio is 7.19%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PWR shares. Stifel Nicolaus raised their price objective on Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Truist Financial started coverage on Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 price objective for the company. Citigroup lifted their target price on Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. KeyCorp started coverage on Quanta Services in a report on Wednesday, January 10th. They issued a “sector weight” rating for the company. Finally, TD Cowen lifted their target price on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $247.67.

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.