Legacy Capital Wealth Partners LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,512 shares of the construction company's stock, valued at approximately $749,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the business. Tower Wealth Partners Inc. grew its holdings in Quanta Services by 3.1% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company's stock worth $335,000 after acquiring an additional 34 shares during the last quarter. Terra Nova Asset Management LLC grew its holdings in Quanta Services by 0.3% in the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company's stock worth $3,810,000 after acquiring an additional 38 shares during the last quarter. Greenleaf Trust grew its holdings in Quanta Services by 1.2% in the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company's stock worth $940,000 after acquiring an additional 38 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Quanta Services by 0.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company's stock valued at $1,777,000 after purchasing an additional 39 shares in the last quarter. Finally, Whittier Trust Co. boosted 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 valued at $1,757,000 after purchasing an additional 39 shares in the last quarter. 90.49% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the stock. TD Cowen lifted their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Robert W. Baird lifted their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. began coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a "neutral" rating and a $297.00 target price on the stock. B. Riley lifted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Finally, UBS Group lifted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. 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, Quanta Services has an average rating of "Moderate Buy" and a consensus target price of $314.27.
Get Our Latest Analysis on Quanta Services
Insider Activity at Quanta Services
In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the business'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 completion of the sale, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the company'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 value of $6,318,302.07. Following the completion of the transaction, the insider now directly owns 10,631 shares in the company, 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 this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company'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 completion of the transaction, the chief executive officer now owns 593,402 shares of the company's stock, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Quanta Services Stock Up 3.2 %
Quanta Services stock traded up $10.12 during trading hours on Friday, hitting $330.98. The stock had a trading volume of 1,305,582 shares, compared to its average volume of 795,703. 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 50-day moving average price is $294.93 and its 200-day moving average price is $275.30. Quanta Services, Inc. has a 12-month low of $168.10 and a 12-month high of $333.24. The stock has a market capitalization of $48.86 billion, a P/E ratio of 61.07 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 earnings per share 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 during the quarter, compared to analysts' expectations of $6.56 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The firm's quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.
Quanta Services Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a dividend of $0.09 per share. The ex-dividend date of this dividend 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%.
About Quanta Services
(
Free Report)
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.
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