Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Laffer Tengler Investments Inc.

Laffer Tengler Investments Inc. grew its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 49.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,786 shares of the construction company's stock after purchasing an additional 3,874 shares during the quarter. Laffer Tengler Investments Inc.'s holdings in Quanta Services were worth $3,514,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PWR. Versor Investments LP purchased a new position in shares of Quanta Services in the third quarter worth about $406,000. Catalytic Wealth RIA LLC purchased a new position in shares of Quanta Services in the third quarter worth about $219,000. Wolverine Asset Management LLC purchased a new position in shares of Quanta Services in the third quarter worth about $1,193,000. Peregrine Asset Advisers Inc. lifted its stake in shares of Quanta Services by 0.6% in the third quarter. Peregrine Asset Advisers Inc. now owns 15,928 shares of the construction company's stock worth $4,749,000 after buying an additional 89 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Quanta Services in the third quarter worth about $96,000. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Trading Down 0.4 %

NYSE:PWR traded down $1.29 on Monday, reaching $329.69. 902,989 shares of the company's stock were exchanged, compared to its average volume of 898,023. The business has a fifty day moving average of $296.02 and a 200-day moving average of $275.98. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a 52-week low of $173.62 and a 52-week high of $335.00. The firm has a market capitalization of $48.67 billion, a price-to-earnings ratio of 60.83 and a beta of 1.01.

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

Quanta Services Announces Dividend

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

Insider Activity

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Quanta Services from $302.00 to $348.00 and gave the stock a "buy" rating in a research note on Friday, October 4th. Truist Financial raised their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Robert W. Baird lifted their target price 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. Wolfe Research initiated coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price on the stock. Finally, TD Cowen lifted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $314.27.

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.