Marco Investment Management LLC Has $3.43 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Marco Investment Management LLC raised its holdings in Quanta Services, Inc. (NYSE:PWR) by 21.2% in the 4th quarter, HoldingsChannel reports. The fund owned 15,869 shares of the construction company’s stock after acquiring an additional 2,779 shares during the period. Marco Investment Management LLC’s holdings in Quanta Services were worth $3,425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AE Wealth Management LLC increased its position in shares of Quanta Services by 22.0% during the third quarter. AE Wealth Management LLC now owns 1,593 shares of the construction company’s stock worth $298,000 after buying an additional 287 shares during the period. Czech National Bank increased its position in shares of Quanta Services by 47.7% during the third quarter. Czech National Bank now owns 25,378 shares of the construction company’s stock worth $4,747,000 after buying an additional 8,193 shares during the period. Asset Management One Co. Ltd. increased its position in shares of Quanta Services by 2.6% during the third quarter. Asset Management One Co. Ltd. now owns 88,290 shares of the construction company’s stock worth $16,516,000 after buying an additional 2,205 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in shares of Quanta Services by 3.0% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 7,389 shares of the construction company’s stock worth $1,382,000 after buying an additional 218 shares during the period. Finally, Meridian Financial Partners LLC acquired a new stake in shares of Quanta Services during the third quarter worth $873,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Quanta Services

In other Quanta Services news, EVP Donald Wayne sold 595 shares of the stock in a transaction on 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 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 Securities & Exchange Commission, which is available at this link. In other news, EVP Derrick A. Jensen sold 18,500 shares of the firm’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 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 SEC, which is accessible through this hyperlink. Also, EVP Donald Wayne sold 595 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $239.61, for a total transaction of $142,567.95. Following the completion of the transaction, the executive vice president now directly owns 41,954 shares in the company, valued at approximately $10,052,597.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,125 shares of company stock worth $11,270,215. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PWR. KeyCorp began coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They set a “sector weight” rating on the stock. Citigroup increased their target price on shares of Quanta Services from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. DA Davidson raised their price objective on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Stifel Nicolaus raised their price objective on shares of Quanta Services from $237.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, TD Cowen raised their price objective on shares of Quanta Services from $205.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Quanta Services has an average rating of “Moderate Buy” and an average target price of $247.67.

Quanta Services Stock Performance

NYSE PWR traded up $6.47 during trading hours on Friday, reaching $261.66. 1,180,022 shares of the company were exchanged, compared to its average volume of 783,667. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $265.82. The business’s 50 day simple moving average is $246.91 and its 200-day simple moving average is $211.87. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $38.30 billion, a P/E ratio of 52.23 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, topping the consensus estimate of $1.83 by $0.21. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The company’s revenue 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, equities research analysts expect that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Quanta Services Announces Dividend

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

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.