Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Quantum Private Wealth LLC

Quantum Private Wealth LLC increased its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 113.5% in the third quarter, HoldingsChannel.com reports. The firm owned 3,693 shares of the construction company’s stock after buying an additional 1,963 shares during the period. Quantum Private Wealth LLC’s holdings in Quanta Services were worth $1,101,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new position in Quanta Services in the 1st quarter valued at approximately $25,000. Cambridge Trust Co. purchased a new stake in shares of Quanta Services during the 1st quarter worth $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services during the 2nd quarter worth $33,000. Quest Partners LLC purchased a new stake in shares of Quanta Services during the 2nd quarter worth $35,000. Finally, Eastern Bank purchased a new stake in shares of Quanta Services during the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on PWR. Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. Northland Securities reiterated an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Citigroup boosted their price objective on shares of 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. began coverage on shares of Quanta Services in a report on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective on the stock. Finally, B. Riley upped their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Insider Activity at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction dated 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 SEC, which is accessible through the SEC website. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated 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 transaction, the insider now 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. 1.10% of the stock is owned by insiders.

Quanta Services Stock Performance

Quanta Services stock opened at $320.82 on Friday. The stock has a market capitalization of $47.36 billion, a price-to-earnings ratio of 59.20 and a beta of 1.01. Quanta Services, Inc. has a 12-month low of $168.10 and a 12-month high of $320.99. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The stock has a 50-day simple moving average of $293.81 and a 200 day simple moving average of $274.54.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the firm earned $2.08 EPS. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, research analysts anticipate that Quanta Services, Inc. will post 7.83 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio is currently 6.64%.

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.