Bank OZK Has $1.94 Million Position in Quanta Services, Inc. (NYSE:PWR)

Bank OZK boosted its position in Quanta Services, Inc. (NYSE:PWR) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,998 shares of the construction company’s stock after purchasing an additional 257 shares during the period. Bank OZK’s holdings in Quanta Services were worth $1,942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PWR. Carnegie Capital Asset Management LLC increased its stake in shares of Quanta Services by 24.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 1,650 shares of the construction company’s stock valued at $356,000 after buying an additional 325 shares during the period. Gradient Investments LLC increased its stake in shares of Quanta Services by 669,187.5% in the fourth quarter. Gradient Investments LLC now owns 53,543 shares of the construction company’s stock valued at $11,555,000 after buying an additional 53,535 shares during the period. Saxon Interests Inc. acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $1,352,000. Nordea Investment Management AB increased its stake in shares of Quanta Services by 8,297.7% in the fourth quarter. Nordea Investment Management AB now owns 912,413 shares of the construction company’s stock valued at $196,205,000 after buying an additional 901,548 shares during the period. Finally, Bourgeon Capital Management LLC acquired a new stake in shares of Quanta Services in the fourth quarter valued at about $4,085,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the subject of several recent research reports. Evercore ISI started coverage on Quanta Services in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $237.00 price target for the company. TD Cowen raised their target price on Quanta Services from $205.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Stifel Nicolaus raised their target price on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Truist Financial started coverage on Quanta Services in a research note on Thursday, March 14th. They set a “buy” rating and a $301.00 target price for the company. Finally, KeyCorp started coverage on Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $247.67.

Insiders Place Their Bets

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares of the company’s stock, valued at $10,494,626.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Donald Wayne sold 1,101 shares of Quanta Services stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the completion of the transaction, the executive vice president now directly owns 40,065 shares in the company, valued at $10,494,626.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Margaret B. Shannon sold 8,515 shares of Quanta Services stock in a transaction on Friday, March 1st. The shares were sold at an average price of $239.92, for a total value of $2,042,918.80. Following the completion of the transaction, the director now owns 34,063 shares of the company’s stock, 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 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Quanta Services Stock Up 2.5 %

Shares of PWR stock traded up $6.47 during trading hours on Friday, reaching $261.66. The company had a trading volume of 1,180,022 shares, compared to its average volume of 783,667. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $265.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.44. The business has a fifty day simple moving average of $246.91 and a 200-day simple moving average of $211.63. The company has a market cap of $38.30 billion, a price-to-earnings ratio of 52.25 and a beta of 1.11.

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 company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter last year, the company earned $1.54 earnings per share. On average, research analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th were issued a dividend of $0.09 per share. The ex-dividend date was Monday, April 8th. This represents a $0.36 dividend on an annualized basis and a yield of 0.14%. Quanta Services’s dividend payout ratio (DPR) is currently 7.19%.

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.