Nations Financial Group Inc. IA ADV Acquires 2,184 Shares of Quanta Services, Inc. (NYSE:PWR)

Nations Financial Group Inc. IA ADV boosted its stake in Quanta Services, Inc. (NYSE:PWR - Free Report) by 39.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,719 shares of the construction company's stock after buying an additional 2,184 shares during the quarter. Nations Financial Group Inc. IA ADV's holdings in Quanta Services were worth $2,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Electron Capital Partners LLC increased its stake in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock worth $666,260,000 after purchasing an additional 2,092,519 shares during the period. Swedbank AB purchased a new stake in shares of Quanta Services in the first quarter worth approximately $227,218,000. Capital World Investors grew its holdings in shares of Quanta Services by 10.7% in the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company's stock valued at $1,726,042,000 after acquiring an additional 643,011 shares in the last quarter. American Century Companies Inc. grew its holdings in Quanta Services by 1,445.3% during the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company's stock valued at $100,404,000 after purchasing an additional 369,581 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock worth $313,968,000 after acquiring an additional 186,306 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Quanta Services Trading Down 0.7 %

PWR stock traded down $2.32 during midday trading on Tuesday, reaching $327.37. 606,200 shares of the company's stock traded hands, compared to its average volume of 896,689. The company has a market capitalization of $48.32 billion, a P/E ratio of 60.83 and a beta of 1.01. 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, Inc. has a fifty-two week low of $173.62 and a fifty-two week high of $335.00. The business has a 50-day moving average price of $296.02 and a two-hundred day moving average price of $275.98.

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

Quanta Services Dividend Announcement

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

Insider Buying and Selling

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the company's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now directly owns 593,402 shares of the company's stock, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now directly owns 593,402 shares of the company's stock, valued at $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PWR shares. Stifel Nicolaus increased their price objective 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 lifted their target price 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. Truist Financial boosted their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. UBS Group boosted their price objective 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. Finally, JPMorgan Chase & Co. began coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a "neutral" rating and a $297.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $314.27.

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.