Fiduciary Alliance LLC Purchases 3,097 Shares of Quanta Services, Inc. (NYSE:PWR)

Fiduciary Alliance LLC boosted its position in Quanta Services, Inc. (NYSE:PWR) by 17.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,227 shares of the construction company’s stock after purchasing an additional 3,097 shares during the period. Fiduciary Alliance LLC’s holdings in Quanta Services were worth $6,329,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Quanta Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after acquiring an additional 105,355 shares during the period. JPMorgan Chase & Co. lifted its holdings in Quanta Services by 2.4% during the 1st quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock worth $1,756,316,000 after purchasing an additional 156,627 shares in the last quarter. Capital World Investors boosted its position in shares of Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after acquiring an additional 643,011 shares during the period. Electron Capital Partners LLC grew its position in shares of Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after purchasing an additional 186,306 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the business’s 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 completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction that occurred on 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 in the company, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,357 shares of company stock valued at $53,115,572 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 0.8 %

PWR traded up $2.62 during trading on Monday, hitting $312.04. The company’s stock had a trading volume of 107,214 shares, compared to its average volume of 898,875. The stock has a market cap of $45.68 billion, a PE ratio of 59.97 and a beta of 1.01. The firm’s 50 day moving average price is $275.77 and its 200-day moving average price is $267.36. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $313.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period last year, the firm earned $1.47 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, 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 dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio is 6.98%.

Wall Street Analysts Forecast Growth

PWR has been the topic of several analyst reports. B. Riley lifted their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Wolfe Research began coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price on the stock. Stifel Nicolaus lifted their price objective on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial increased their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup upped their target price on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Quanta Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $299.93.

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.