Kovack Advisors Inc. Raises Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Kovack Advisors Inc. lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 20.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,678 shares of the construction company's stock after buying an additional 1,629 shares during the period. Kovack Advisors Inc.'s holdings in Quanta Services were worth $2,886,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PWR. Tower Wealth Partners Inc. increased its position in shares of Quanta Services by 3.1% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company's stock worth $335,000 after purchasing an additional 34 shares during the last quarter. Terra Nova Asset Management LLC increased its holdings in Quanta Services by 0.3% during the third quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company's stock worth $3,810,000 after buying an additional 38 shares during the last quarter. Greenleaf Trust raised its position in Quanta Services by 1.2% during the third quarter. Greenleaf Trust now owns 3,154 shares of the construction company's stock worth $940,000 after acquiring an additional 38 shares in the last quarter. EP Wealth Advisors LLC grew its position in shares of Quanta Services by 0.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company's stock valued at $1,777,000 after acquiring an additional 39 shares during the period. Finally, Whittier Trust Co. increased its stake in shares of Quanta Services by 0.7% during the 3rd quarter. Whittier Trust Co. now owns 5,894 shares of the construction company's stock worth $1,757,000 after purchasing an additional 39 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Ratings Changes

PWR has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. TD Cowen raised their price target on Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a "hold" rating and a $256.00 price objective on the stock. Truist Financial upped their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird lifted their price target on shares of Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $314.27.

Insiders Place Their Bets

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 value of $6,318,302.07. Following the sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company's stock.

Quanta Services Trading Down 0.0 %

Shares of NYSE:PWR traded down $0.10 during midday trading on Wednesday, hitting $327.17. 941,705 shares of the stock were exchanged, compared to its average volume of 896,897. The business's 50-day moving average price is $298.84 and its 200 day moving average price is $276.79. Quanta Services, Inc. has a 12 month low of $179.57 and a 12 month high of $335.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The stock has a market capitalization of $48.29 billion, a price-to-earnings ratio of 60.36 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share 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 company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.56 billion. During the same quarter in the prior year, the firm posted $2.08 earnings per share. The business's quarterly revenue was up 15.5% on a year-over-year basis. Analysts predict that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Dividend Announcement

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

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.