Meridian Financial Partners LLC Invests $793,000 in Quanta Services, Inc. (NYSE:PWR)

Meridian Financial Partners LLC acquired a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,660 shares of the construction company’s stock, valued at approximately $793,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Nomura Holdings Inc. bought a new position in shares of Quanta Services during the fourth quarter worth about $631,000. Wellington Management Group LLP raised its holdings in shares of Quanta Services by 581.3% during the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock valued at $25,252,000 after buying an additional 99,840 shares during the last quarter. Allen Investment Management LLC boosted its position in shares of Quanta Services by 1,418.0% during the first quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock worth $8,676,000 after buying an additional 31,196 shares during the period. Vanguard Group Inc. grew its holdings in Quanta Services by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after buying an additional 105,355 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Quanta Services by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after acquiring an additional 1,981 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Quanta Services

In other news, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 29,002 shares of the company’s stock, valued at approximately $7,541,390.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO James Redgie Probst sold 34,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the transaction, the chief operating officer now owns 29,002 shares in the company, valued at approximately $7,541,390.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction of $6,318,302.07. Following the completion of the sale, the insider now owns 10,631 shares of the company’s stock, 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 sold 202,357 shares of company stock valued at $53,115,572 in the last quarter. Company insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

Shares of NYSE:PWR opened at $314.27 on Friday. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $316.28. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The company has a market cap of $46.30 billion, a P/E ratio of 59.30 and a beta of 1.01. The company’s fifty day moving average is $281.72 and its two-hundred day moving average is $269.05.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during 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 business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $1.47 EPS. Equities analysts expect that Quanta Services, Inc. will post 7.83 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently announced 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 of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. Quanta Services’s payout ratio is 6.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PWR shares. Citigroup lifted their price objective 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. Truist Financial upped 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. Stifel Nicolaus lifted their price target on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wolfe Research began coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price target on the stock. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $303.86.

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.