Advisor Resource Council acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,299 shares of the construction company's stock, valued at approximately $984,000.
Other institutional investors also recently bought and sold shares of the company. EntryPoint Capital LLC acquired a new position in Quanta Services in the first quarter valued at $25,000. Cambridge Trust Co. acquired a new position in shares of Quanta Services during the first quarter worth about $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services during the second quarter worth about $33,000. Quest Partners LLC acquired a new position in shares of Quanta Services during the second quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Quanta Services during the second quarter worth about $38,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on PWR. Robert W. Baird boosted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Citigroup upped their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Stifel Nicolaus upped their target price 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. B. Riley upped their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Finally, UBS Group upped their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $314.27.
Check Out Our Latest Report on PWR
Quanta Services Trading Up 3.2 %
Shares of PWR traded up $10.04 on Thursday, hitting $320.86. 1,068,618 shares of the stock traded hands, compared to its average volume of 895,408. 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 firm has a market capitalization of $47.36 billion, a P/E ratio of 57.35 and a beta of 1.01. The stock's 50 day moving average is $292.81 and its two-hundred day moving average is $274.22. Quanta Services, Inc. has a 1 year low of $167.12 and a 1 year high of $320.99.
Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the business posted $2.08 earnings per share. Quanta Services's revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.83 earnings per share for the current year.
Quanta Services Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services's dividend payout ratio is presently 6.64%.
Insider Activity
In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the sale, the insider now owns 21,286 shares of the company's stock, valued at $5,490,297.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 10,631 shares of the company's stock, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 21,286 shares of the company's stock, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,357 shares of company stock valued at $53,115,572. Company insiders own 1.10% of the company's stock.
Quanta Services Profile
(
Free Report)
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.
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