Hollow Brook Wealth Management LLC Grows Holdings in Quanta Services, Inc. (NYSE:PWR)

Hollow Brook Wealth Management LLC grew its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,444 shares of the construction company’s stock after acquiring an additional 264 shares during the period. Quanta Services comprises approximately 1.3% of Hollow Brook Wealth Management LLC’s holdings, making the stock its 25th biggest position. Hollow Brook Wealth Management LLC’s holdings in Quanta Services were worth $3,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. acquired a new position in shares of Quanta Services in the 4th quarter valued at about $378,000. Savant Capital LLC boosted its stake in Quanta Services by 47.9% during the 4th quarter. Savant Capital LLC now owns 6,236 shares of the construction company’s stock valued at $1,346,000 after purchasing an additional 2,019 shares during the period. Alpha Cubed Investments LLC raised its position in shares of Quanta Services by 137.6% during the 4th quarter. Alpha Cubed Investments LLC now owns 138,660 shares of the construction company’s stock worth $29,923,000 after buying an additional 80,290 shares in the last quarter. Penobscot Investment Management Company Inc. raised its position in shares of Quanta Services by 17.6% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 31,829 shares of the construction company’s stock worth $6,869,000 after buying an additional 4,775 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. raised its position in shares of Quanta Services by 4.7% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 117,026 shares of the construction company’s stock worth $25,254,000 after buying an additional 5,293 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 value of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares of the company’s stock, valued at approximately $62,476,452.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Quanta Services news, 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 sale, the executive vice president now directly 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 SEC, which is available through the SEC website. Also, Director Worthing Jackman sold 9,572 shares of the company’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 sale, the director now directly 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 ninety days, insiders have sold 47,125 shares of company stock valued at $11,270,215. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PWR shares. The Goldman Sachs Group boosted their target price on shares of Quanta Services from $227.00 to $259.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Stifel Nicolaus boosted their price objective on shares of 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 initiated coverage on shares of Quanta Services in a research report on Thursday, March 14th. They issued a “buy” rating and a $301.00 target price for the company. KeyCorp began coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating for the company. Finally, Evercore ISI initiated coverage on shares of Quanta Services in a report on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 target price on the stock. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.67.

Quanta Services Price Performance

NYSE PWR traded down $3.80 on Tuesday, reaching $258.54. The company’s stock had a trading volume of 1,066,476 shares, compared to its average volume of 925,198. The firm has a market cap of $37.85 billion, a PE ratio of 52.36 and a beta of 1.11. The business has a 50-day moving average price of $247.93 and a 200 day moving average price of $212.69. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $265.82. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.58.

Quanta Services (NYSE:PWR) last posted 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 for the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 earnings per share. Sell-side analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed 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 0.14%. Quanta Services’s dividend payout ratio is currently 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.