Vestor Capital LLC Invests $42,000 in Quanta Services, Inc. (NYSE:PWR)

Vestor Capital LLC purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 196 shares of the construction company’s stock, valued at approximately $42,000.

A number of other hedge funds have also modified their holdings of PWR. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Quanta Services by 12.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,884 shares of the construction company’s stock worth $10,080,000 after buying an additional 5,984 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Quanta Services by 3.9% during the third quarter. Mackenzie Financial Corp now owns 11,500 shares of the construction company’s stock worth $2,151,000 after buying an additional 434 shares in the last quarter. Strs Ohio grew its holdings in shares of Quanta Services by 4.6% during the third quarter. Strs Ohio now owns 9,266 shares of the construction company’s stock worth $1,733,000 after buying an additional 409 shares in the last quarter. Advisor Partners II LLC grew its holdings in shares of Quanta Services by 11.8% during the third quarter. Advisor Partners II LLC now owns 8,686 shares of the construction company’s stock worth $1,625,000 after buying an additional 920 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of Quanta Services by 2.6% during the third quarter. Park Avenue Securities LLC now owns 14,625 shares of the construction company’s stock worth $2,736,000 after buying an additional 372 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Quanta Services

In other news, Director Worthing Jackman sold 9,572 shares of the stock in a transaction on Wednesday, February 28th. The stock was 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 of the company’s stock, valued at approximately $1,776,502.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Worthing Jackman sold 9,572 shares of the company’s stock in a transaction that occurred on 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 owns 7,486 shares of the company’s stock, valued at approximately $1,776,502.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Margaret B. Shannon sold 8,515 shares of Quanta Services stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $239.92, for a total transaction of $2,042,918.80. Following the completion of the transaction, the director now directly owns 34,063 shares in the company, valued at $8,172,394.96. 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 three months. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR traded up $5.44 during midday trading on Thursday, reaching $270.42. 1,012,920 shares of the stock were exchanged, compared to its average volume of 943,098. The stock’s 50 day simple moving average is $253.02 and its 200 day simple moving average is $217.12. The company has a market cap of $39.59 billion, a P/E ratio of 52.41 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $271.96. The company has a quick ratio of 1.32, a current ratio of 1.36 and a debt-to-equity ratio of 0.50.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data 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 business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the company earned $1.54 EPS. The business’s revenue was up 31.0% on a year-over-year basis. On average, sell-side analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Monday, April 8th. Quanta Services’s dividend payout ratio is currently 6.98%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Truist Financial reiterated a “buy” rating and set a $305.00 price objective (up from $301.00) on shares of Quanta Services in a report on Monday. Citigroup raised their price target on Quanta Services from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Robert W. Baird raised their price target on Quanta Services from $265.00 to $287.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. TD Cowen raised their price target on Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, B. Riley raised their price target on Quanta Services from $246.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $262.00.

About Quanta Services

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.