Picton Mahoney Asset Management Increases Stock Position in Quanta Services, Inc. (NYSE:PWR)

Picton Mahoney Asset Management increased its position in shares of Quanta Services, Inc. (NYSE:PWR) by 24.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,092 shares of the construction company’s stock after purchasing an additional 13,630 shares during the quarter. Picton Mahoney Asset Management’s holdings in Quanta Services were worth $15,124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PWR. Grove Bank & Trust grew its holdings in shares of Quanta Services by 75.6% in the third quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock valued at $30,000 after acquiring an additional 68 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of Quanta Services by 47.3% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 162 shares of the construction company’s stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Quanta Services during the 3rd quarter worth $36,000. Valley National Advisers Inc. purchased a new position in Quanta Services in the fourth quarter valued at about $41,000. Finally, Planned Solutions Inc. purchased a new position in Quanta Services in the fourth quarter valued at approximately $43,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of research reports. Evercore ISI increased their target price on shares of Quanta Services from $255.00 to $288.00 and gave the stock an “outperform” rating in a research report on Tuesday. B. Riley boosted their price objective on shares of Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research note on Friday. TD Cowen increased their target price on shares of Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. DA Davidson boosted their price target on shares of Quanta Services from $225.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Stifel Nicolaus increased their price objective on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $262.00.

Insider Buying and Selling at Quanta Services

In other news, EVP Donald Wayne sold 595 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the sale, the executive vice president now directly owns 41,954 shares in the company, valued at $10,052,597.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Donald Wayne sold 595 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $239.61, for a total value of $142,567.95. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at 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 transaction, the director now owns 7,486 shares in the company, valued at approximately $1,776,502.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is currently owned by insiders.

Quanta Services Price Performance

Shares of PWR traded down $2.64 during midday trading on Tuesday, reaching $266.86. The stock had a trading volume of 1,116,639 shares, compared to its average volume of 941,909. The company has a market capitalization of $39.07 billion, a price-to-earnings ratio of 51.72 and a beta of 1.10. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $271.96. The company’s 50-day moving average is $251.91 and its 200 day moving average is $216.41.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.25%. The business’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.54 EPS. On average, equities analysts predict 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. Shareholders of record on Tuesday, April 9th were paid a $0.09 dividend. The ex-dividend date was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. Quanta Services’s dividend payout ratio (DPR) 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.