Financial Enhancement Group LLC Invests $2.54 Million in Quanta Services, Inc. (NYSE:PWR)

Financial Enhancement Group LLC acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,511 shares of the construction company's stock, valued at approximately $2,538,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PWR. Csenge Advisory Group lifted its holdings in Quanta Services by 24.1% during the 1st quarter. Csenge Advisory Group now owns 3,321 shares of the construction company's stock valued at $863,000 after purchasing an additional 645 shares during the last quarter. Empirical Finance LLC lifted its holdings in Quanta Services by 3.5% during the 1st quarter. Empirical Finance LLC now owns 5,107 shares of the construction company's stock valued at $1,327,000 after purchasing an additional 175 shares during the last quarter. Empowered Funds LLC increased its position in Quanta Services by 24.2% in the 1st quarter. Empowered Funds LLC now owns 1,835 shares of the construction company's stock valued at $477,000 after acquiring an additional 357 shares in the last quarter. SG Americas Securities LLC increased its position in Quanta Services by 76.5% in the 1st quarter. SG Americas Securities LLC now owns 50,477 shares of the construction company's stock valued at $13,114,000 after acquiring an additional 21,877 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd increased its position in Quanta Services by 16.4% in the 1st quarter. Alphinity Investment Management Pty Ltd now owns 8,871 shares of the construction company's stock valued at $2,305,000 after acquiring an additional 1,250 shares in the last quarter. 90.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PWR shares. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a "neutral" rating and a $297.00 price target for the company. Robert W. Baird lifted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a "hold" rating and a $256.00 price target for the company. TD Cowen boosted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Finally, Northland Securities restated an "outperform" rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.27.

Quanta Services Stock Performance

NYSE PWR traded up $10.04 on Thursday, hitting $320.86. 1,068,618 shares of the stock were exchanged, compared to its average volume of 895,408. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. The business's fifty day moving average is $292.81 and its 200 day moving average is $274.22. Quanta Services, Inc. has a 52 week low of $167.12 and a 52 week high of $320.99. The company has a market capitalization of $47.36 billion, a PE ratio of 57.35 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The company's quarterly revenue was up 15.5% on a year-over-year basis. Research analysts anticipate that Quanta Services, Inc. will post 7.83 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors 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 annualized dividend and a dividend yield of 0.11%. Quanta Services's dividend payout ratio (DPR) is presently 6.64%.

Insider Activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the company's stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Karl W. Studer sold 23,357 shares of the company's stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of the company's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the sale, the chief operating officer now directly owns 29,002 shares of the company's stock, valued at $7,541,390.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,357 shares of company stock worth $53,115,572. 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.