Insigneo Advisory Services LLC Buys New Shares in Quanta Services, Inc. (NYSE:PWR)

Insigneo Advisory Services LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,536 shares of the construction company's stock, valued at approximately $458,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC grew its position in Quanta Services by 30.4% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 12,399 shares of the construction company's stock worth $3,697,000 after purchasing an additional 2,891 shares in the last quarter. Wexford Capital LP raised its position in shares of Quanta Services by 58.6% during the third quarter. Wexford Capital LP now owns 2,252 shares of the construction company's stock valued at $671,000 after buying an additional 832 shares during the last quarter. Wahed Invest LLC raised its position in shares of Quanta Services by 12.7% during the third quarter. Wahed Invest LLC now owns 3,526 shares of the construction company's stock valued at $1,051,000 after buying an additional 398 shares during the last quarter. Temasek Holdings Private Ltd acquired a new position in shares of Quanta Services during the third quarter valued at about $3,271,000. Finally, State Street Corp increased its stake in Quanta Services by 1.6% in the third quarter. State Street Corp now owns 5,748,637 shares of the construction company's stock valued at $1,713,956,000 after acquiring an additional 89,975 shares during the period. Institutional investors own 90.49% of the company's stock.

Quanta Services Stock Performance

Shares of PWR stock traded down $10.68 during midday trading on Monday, hitting $321.79. The company had a trading volume of 1,032,367 shares, compared to its average volume of 895,433. The company's 50 day simple moving average is $319.67 and its 200 day simple moving average is $285.47. Quanta Services, Inc. has a 52-week low of $187.27 and a 52-week high of $350.19. The stock has a market cap of $47.50 billion, a price-to-earnings ratio of 59.37 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating 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 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 business earned $2.08 earnings per share. The company's revenue for the quarter was up 15.5% compared to the same quarter last year. Research analysts anticipate that Quanta Services, Inc. will post 7.9 earnings per share for the current fiscal year.

Quanta Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Thursday, January 2nd will be paid a $0.10 dividend. The ex-dividend date is Thursday, January 2nd. This is an increase from Quanta Services's previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services's payout ratio is 6.64%.

Wall Street Analyst Weigh In

Several analysts have weighed in on PWR shares. Robert W. Baird upped their price objective 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. Stifel Nicolaus lifted their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. UBS Group lifted their target price on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. 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, Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a "hold" rating and a $256.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus target price of $319.69.

About Quanta Services

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.