Southeast Asset Advisors Inc. Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

Southeast Asset Advisors Inc. purchased a new position in Quanta Services, Inc. (NYSE:PWR) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,030 shares of the construction company’s stock, valued at approximately $438,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. lifted its holdings 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 worth $34,000 after purchasing an additional 52 shares during the period. Checchi Capital Advisers LLC lifted its holdings in shares of Quanta Services by 4.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,367 shares of the construction company’s stock worth $295,000 after purchasing an additional 60 shares during the period. Central Bank & Trust Co. lifted its holdings in shares of Quanta Services by 2.1% during the fourth quarter. Central Bank & Trust Co. now owns 3,246 shares of the construction company’s stock worth $700,000 after purchasing an additional 66 shares during the period. Czech National Bank raised its position in Quanta Services by 0.3% during the fourth quarter. Czech National Bank now owns 25,445 shares of the construction company’s stock valued at $5,491,000 after acquiring an additional 67 shares in the last quarter. Finally, Evergreen Wealth Solutions LLC raised its position in Quanta Services by 2.9% during the fourth quarter. Evergreen Wealth Solutions LLC now owns 2,340 shares of the construction company’s stock valued at $505,000 after acquiring an additional 67 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of PWR traded up $5.61 during trading hours on Wednesday, hitting $275.63. 242,012 shares of the stock were exchanged, compared to its average volume of 947,393. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $286.87. The company has a market cap of $40.35 billion, a price-to-earnings ratio of 53.27 and a beta of 1.05. The stock’s 50-day moving average price is $262.65 and its two-hundred day moving average price is $230.62.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, May 2nd. The construction company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The company had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.96 billion. Quanta Services had a return on equity of 16.25% and a net margin of 3.57%. Research analysts expect that Quanta Services, Inc. will post 7.69 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Monday, July 1st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.13%. The ex-dividend date of this dividend is Monday, July 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Insider Activity

In other news, EVP Donald Wayne sold 595 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 41,954 shares of the company’s stock, valued at approximately $10,052,597.94. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

PWR has been the subject of several recent research reports. Citigroup lifted their price target on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Evercore ISI lifted their price target on Quanta Services from $255.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th. The Goldman Sachs Group lifted their price target on Quanta Services from $259.00 to $286.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Stifel Nicolaus boosted 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. Finally, Truist Financial restated a “buy” rating and issued a $305.00 price objective (up from $301.00) on shares of Quanta Services in a research report on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $268.85.

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.