Lebenthal Global Advisors LLC Has $2.32 Million Holdings in Quanta Services, Inc. (NYSE:PWR)

Lebenthal Global Advisors LLC grew its position in Quanta Services, Inc. (NYSE:PWR) by 6.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,795 shares of the construction company’s stock after buying an additional 504 shares during the quarter. Quanta Services makes up approximately 0.5% of Lebenthal Global Advisors LLC’s portfolio, making the stock its 29th largest position. Lebenthal Global Advisors LLC’s holdings in Quanta Services were worth $2,324,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PWR. EntryPoint Capital LLC acquired a new stake in Quanta Services during the 1st quarter worth about $25,000. Salomon & Ludwin LLC purchased a new position in Quanta Services during the first quarter valued at approximately $26,000. Cambridge Trust Co. acquired a new position in Quanta Services in the 1st quarter valued at approximately $26,000. Valley Wealth Managers Inc. purchased a new stake in Quanta Services in the 2nd quarter worth approximately $33,000. Finally, Quest Partners LLC purchased a new stake in Quanta Services in the 2nd quarter worth approximately $35,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

NYSE PWR traded up $6.08 during trading on Friday, hitting $307.71. The company’s stock had a trading volume of 63,211 shares, compared to its average volume of 883,885. Quanta Services, Inc. has a 52 week low of $163.93 and a 52 week high of $317.91. The firm has a market cap of $45.33 billion, a P/E ratio of 56.91 and a beta of 1.01. The firm has a 50 day moving average price of $289.12 and a 200 day moving average price of $272.10. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last released its earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. The firm had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.08 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.79%.

Insider Transactions at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares of the company’s stock, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PWR shares. Truist Financial upped their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wolfe Research assumed coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. UBS Group boosted their price target on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Citigroup raised their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Stifel Nicolaus boosted their target price on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $311.07.

Quanta Services Company 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.