Argus Investors Counsel Inc. Purchases 176 Shares of Quanta Services, Inc. (NYSE:PWR)

Argus Investors Counsel Inc. boosted its position in Quanta Services, Inc. (NYSE:PWR) by 2.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,197 shares of the construction company’s stock after acquiring an additional 176 shares during the period. Quanta Services accounts for approximately 1.6% of Argus Investors Counsel Inc.’s portfolio, making the stock its 19th largest holding. Argus Investors Counsel Inc.’s holdings in Quanta Services were worth $2,444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Precision Wealth Strategies LLC bought a new stake in shares of Quanta Services during the third quarter valued at about $462,000. Whittier Trust Co. increased its position in shares of Quanta Services by 0.7% during the third quarter. Whittier Trust Co. now owns 5,894 shares of the construction company’s stock valued at $1,757,000 after buying an additional 39 shares during the period. Western Financial Corp CA bought a new stake in shares of Quanta Services during the third quarter valued at about $1,146,000. Kennedy Investment Group bought a new stake in shares of Quanta Services during the third quarter valued at about $750,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Quanta Services during the third quarter valued at about $400,000. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

PWR traded down $3.61 during midday trading on Tuesday, hitting $314.03. The stock had a trading volume of 143,092 shares, compared to its average volume of 887,743. The company has a market cap of $46.27 billion, a P/E ratio of 59.93 and a beta of 1.01. The business has a fifty day moving average of $282.87 and a 200 day moving average of $269.60. 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 1 year low of $153.74 and a 1 year high of $317.91.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $5.51 billion. During the same quarter in the prior year, the firm earned $1.47 earnings per share. Quanta Services’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities analysts forecast 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. 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 annualized dividend and a yield of 0.11%. Quanta Services’s payout ratio is currently 6.79%.

Wall Street Analysts Forecast Growth

PWR has been the topic of several analyst reports. TD Cowen upped their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. 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 target on the stock. Citigroup boosted their price objective on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. initiated coverage on Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Finally, Robert W. Baird boosted their price objective on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $303.86.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is currently owned by insiders.

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.