Pinnacle Financial Partners Inc Has $9.61 Million Position in Quanta Services, Inc. (NYSE:PWR)

Pinnacle Financial Partners Inc lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWRFree Report) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,507 shares of the construction company’s stock after buying an additional 1,656 shares during the period. Pinnacle Financial Partners Inc’s holdings in Quanta Services were worth $9,605,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Osborne Partners Capital Management LLC increased its position in shares of Quanta Services by 14.6% during the 4th quarter. Osborne Partners Capital Management LLC now owns 10,302 shares of the construction company’s stock worth $2,223,000 after purchasing an additional 1,312 shares during the last quarter. Norris Perne & French LLP MI increased its holdings in Quanta Services by 10.6% during the fourth quarter. Norris Perne & French LLP MI now owns 155,937 shares of the construction company’s stock worth $33,651,000 after buying an additional 14,917 shares during the last quarter. Pallas Capital Advisors LLC raised its position in Quanta Services by 17.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 11,252 shares of the construction company’s stock worth $2,428,000 after acquiring an additional 1,693 shares in the last quarter. Tower Wealth Partners Inc. bought a new position in shares of Quanta Services in the 4th quarter valued at about $211,000. Finally, Chicago Capital LLC bought a new position in Quanta Services during the fourth quarter worth about $6,834,000. Institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE PWR traded down $4.93 during midday trading on Tuesday, reaching $254.33. 344,488 shares of the company were exchanged, compared to its average volume of 938,219. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $262.01. The stock has a market cap of $37.07 billion, a P/E ratio of 51.30 and a beta of 1.11. 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’s 50-day moving average price is $227.75 and its 200-day moving average price is $202.70.

Quanta Services (NYSE:PWRGet Free Report) last issued its earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.21. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Tuesday, April 9th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.14%. The ex-dividend date of this dividend is Monday, April 8th. Quanta Services’s dividend payout ratio (DPR) is currently 7.19%.

Insider Transactions at Quanta Services

In related news, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the completion of the sale, the executive vice president now directly owns 263,725 shares in the company, valued at $62,476,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total transaction of $288,395.94. Following the completion of the sale, the executive vice president now directly owns 40,065 shares in the company, valued at approximately $10,494,626.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the sale, the executive vice president now owns 263,725 shares of the company’s stock, valued at $62,476,452.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,125 shares of company stock worth $11,270,215. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the topic of a number of research analyst reports. KeyCorp assumed coverage on Quanta Services in a research note on Wednesday, January 10th. They issued a “sector weight” rating on the stock. Stifel Nicolaus raised their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. DA Davidson lifted their price target on shares of Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Evercore ISI assumed coverage on Quanta Services in a research note on Tuesday, February 13th. They set an “outperform” rating and a $237.00 price objective on the stock. Finally, Citigroup upped their target price on Quanta Services from $234.00 to $237.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and a consensus price target of $239.54.

Read Our Latest Research Report on PWR

About Quanta Services

(Free Report)

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.

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Institutional Ownership by Quarter for Quanta Services (NYSE:PWR)

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