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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Quanta Services in the 4th quarter worth approximately $217,000. Aveo Capital Partners LLC boosted its holdings in shares of Quanta Services by 11.0% in the 4th quarter. Aveo Capital Partners LLC now owns 1,313 shares of the construction company’s stock worth $283,000 after acquiring an additional 130 shares in the last quarter. LGT Group Foundation bought a new stake in Quanta Services during the 4th quarter worth approximately $513,000. Fortitude Advisory Group L.L.C. acquired a new stake in Quanta Services during the 4th quarter valued at $330,000. Finally, First Trust Direct Indexing L.P. boosted its stake in Quanta Services by 17.0% in the fourth quarter. First Trust Direct Indexing L.P. now owns 2,368 shares of the construction company’s stock worth $511,000 after purchasing an additional 344 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PWR. Robert W. Baird lifted their price target on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a report on Friday. DA Davidson raised their price target on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 28th. Evercore ISI assumed coverage on shares of Quanta Services in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price objective for the company. The Goldman Sachs Group lifted their target price on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Finally, Truist Financial began coverage on shares of Quanta Services in a research note on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.85.

Insider Buying and Selling at Quanta Services

In other news, EVP Derrick A. Jensen sold 18,500 shares of the firm’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 sale, the executive vice president now owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 value of $4,382,650.00. Following the completion of the sale, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. Insiders sold 47,125 shares of company stock valued at $11,270,215 in the last quarter. 1.10% of the stock is currently owned by insiders.

Quanta Services Stock Up 0.5 %

Shares of Quanta Services stock traded up $1.33 on Friday, hitting $256.33. The company had a trading volume of 970,817 shares, compared to its average volume of 893,668. The firm has a market capitalization of $37.52 billion, a P/E ratio of 49.68 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $265.82. The stock has a 50-day moving average of $250.69 and a 200-day moving average of $214.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.44.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.21. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same period last year, the business earned $1.54 EPS. The business’s quarterly revenue was up 31.0% on a year-over-year basis. Research 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 announced a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. The ex-dividend date of this dividend was Monday, April 8th. Quanta Services’s dividend payout ratio is currently 6.98%.

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.