Aptus Capital Advisors LLC Buys 31,655 Shares of Quanta Services, Inc. (NYSE:PWR)

Aptus Capital Advisors LLC lifted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 790.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,658 shares of the construction company's stock after buying an additional 31,655 shares during the quarter. Aptus Capital Advisors LLC's holdings in Quanta Services were worth $10,631,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Quanta Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company's stock valued at $4,245,452,000 after purchasing an additional 105,355 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Quanta Services by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company's stock valued at $1,756,316,000 after purchasing an additional 156,627 shares in the last quarter. Capital World Investors raised its stake in Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company's stock valued at $1,726,042,000 after purchasing an additional 643,011 shares in the last quarter. Electron Capital Partners LLC raised its stake in 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 valued at $666,260,000 after purchasing an additional 2,092,519 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock valued at $313,968,000 after purchasing an additional 186,306 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Trading Down 0.7 %

PWR traded down $2.32 during trading on Tuesday, hitting $327.37. The company's stock had a trading volume of 606,200 shares, compared to its average volume of 896,689. Quanta Services, Inc. has a twelve month low of $173.62 and a twelve month high of $335.00. 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's fifty day moving average price is $297.41 and its 200-day moving average price is $276.44. The firm has a market capitalization of $48.32 billion, a P/E ratio of 60.40 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. Quanta Services's revenue for the quarter was up 15.5% on a year-over-year basis. Analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. Quanta Services's dividend payout ratio (DPR) is presently 6.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PWR shares. TD Cowen lifted their target price on Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Northland Securities reiterated an "outperform" rating and issued a $328.00 target price (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. Jefferies Financial Group started coverage on Quanta Services in a research report on Wednesday, September 4th. They issued a "hold" rating and a $256.00 target price on the stock. Finally, Truist Financial lifted their target price on Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $314.27.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the company's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the transaction, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Karl W. Studer sold 23,357 shares of the 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 completion of the transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was 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 $155,595,938.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

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.