PDS Planning Inc Invests $222,000 in Quanta Services, Inc. (NYSE:PWR)

PDS Planning Inc acquired a new stake in Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 745 shares of the construction company’s stock, valued at approximately $222,000.

Other large investors have also recently added to or reduced their stakes in the company. Electron Capital Partners LLC grew its stake in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock worth $666,260,000 after acquiring an additional 2,092,519 shares in the last quarter. Swedbank AB purchased a new stake in Quanta Services during the 1st quarter worth about $227,218,000. Capital World Investors boosted its position in shares of Quanta Services by 10.7% during the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock worth $1,726,042,000 after acquiring an additional 643,011 shares in the last quarter. American Century Companies Inc. increased its stake in Quanta Services by 1,445.3% in the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after purchasing an additional 369,581 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Quanta Services by 17.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after buying an additional 186,306 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the 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 sale, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services 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 owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This 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 worth $53,115,572 in the last quarter. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Truist Financial upped their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus raised their price objective 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. TD Cowen increased their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group initiated coverage on Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target on the stock. Finally, B. Riley increased their price objective on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Trading Up 3.4 %

NYSE:PWR opened at $314.62 on Wednesday. Quanta Services, Inc. has a 1 year low of $163.93 and a 1 year high of $317.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a fifty day moving average price of $291.95 and a two-hundred day moving average price of $273.96. The stock has a market capitalization of $46.44 billion, a price-to-earnings ratio of 58.05 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results 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. The business had revenue of $6.49 billion during the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 EPS. As a group, 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 company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.64%.

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.