Quanta Services, Inc. (NYSE:PWR) Shares Purchased by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,779 shares of the construction company’s stock after purchasing an additional 38 shares during the quarter. Quanta Services accounts for approximately 2.8% of Terra Nova Asset Management LLC’s portfolio, making the stock its 7th biggest position. Terra Nova Asset Management LLC’s holdings in Quanta Services were worth $3,810,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. EntryPoint Capital LLC acquired a new position in Quanta Services in the 1st quarter valued at about $25,000. Private Ocean LLC acquired a new position in shares of Quanta Services during the first quarter worth about $26,000. Salomon & Ludwin LLC acquired a new position in shares of Quanta Services during the first quarter worth about $26,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services during the first quarter worth about $26,000. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services during the second quarter worth about $33,000. 90.49% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now owns 29,002 shares of the company’s stock, valued at $7,541,390.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,357 shares of company stock valued at $53,115,572. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of analyst reports. TD Cowen boosted their price objective on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday. Wolfe Research initiated coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective for the company. Citigroup boosted their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Jefferies Financial Group started coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price for the company. Finally, JPMorgan Chase & Co. started coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $303.86.

Quanta Services Stock Performance

NYSE PWR traded up $4.04 on Wednesday, reaching $309.58. The stock had a trading volume of 86,151 shares, compared to its average volume of 894,810. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $313.56. The business’s 50-day moving average price is $277.20 and its 200 day moving average price is $267.72. The stock has a market cap of $45.32 billion, a P/E ratio of 59.20 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.47 earnings per share. As a group, equities analysts expect that Quanta Services, Inc. will post 7.81 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s payout ratio is currently 6.98%.

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.