Geneva Partners LLC Purchases New Shares in Quanta Services, Inc. (NYSE:PWR)

Geneva Partners LLC acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,236 shares of the construction company’s stock, valued at approximately $1,859,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PWR. EntryPoint Capital LLC acquired a new position in Quanta Services during the 1st quarter worth about $25,000. Salomon & Ludwin LLC acquired a new position in shares of Quanta Services during the first quarter worth approximately $26,000. Cambridge Trust Co. bought a new stake in shares of Quanta Services during the first quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services in the second quarter valued at approximately $33,000. Finally, Quest Partners LLC bought a new position in Quanta Services in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Up 0.3 %

PWR stock opened at $304.32 on Tuesday. The business has a 50-day moving average of $291.06 and a 200-day moving average of $273.46. Quanta Services, Inc. has a fifty-two week low of $163.93 and a fifty-two week high of $317.91. The stock has a market capitalization of $44.92 billion, a P/E ratio of 56.15 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the company earned $2.08 earnings per share. The firm’s revenue was up 15.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s payout ratio is 6.64%.

Insider Activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total transaction of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The sale 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 firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $260.03, for a total value of $8,841,020.00. Following the completion of the sale, the chief operating officer now directly owns 29,002 shares in the company, valued at approximately $7,541,390.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over 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 insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PWR shares. JPMorgan Chase & Co. assumed coverage on Quanta Services in a report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target on the stock. B. Riley lifted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Wolfe Research assumed coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. Stifel Nicolaus raised their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Truist Financial boosted their target price on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.27.

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.