HWG Holdings LP acquired a new stake in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 13,823 shares of the construction company's stock, valued at approximately $3,512,000. Quanta Services comprises approximately 1.3% of HWG Holdings LP's investment portfolio, making the stock its 19th largest position.
Several other large investors also recently modified their holdings of PWR. Aveo Capital Partners LLC boosted its stake in Quanta Services by 11.0% in the 4th quarter. Aveo Capital Partners LLC now owns 1,313 shares of the construction company's stock valued at $283,000 after purchasing an additional 130 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Quanta Services by 13.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,076 shares of the construction company's stock valued at $1,743,000 after acquiring an additional 966 shares in the last quarter. TD Asset Management Inc increased its position in Quanta Services by 123.4% during the fourth quarter. TD Asset Management Inc now owns 115,534 shares of the construction company's stock worth $24,932,000 after acquiring an additional 63,810 shares during the period. Bank of Nova Scotia raised its stake in Quanta Services by 135.2% in the 4th quarter. Bank of Nova Scotia now owns 54,987 shares of the construction company's stock worth $11,866,000 after purchasing an additional 31,608 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Quanta Services by 1.0% in the 4th quarter. California State Teachers Retirement System now owns 231,173 shares of the construction company's stock valued at $49,887,000 after purchasing an additional 2,351 shares during the period. 90.49% of the stock is owned by institutional investors.
Quanta Services Price Performance
Quanta Services stock traded up $1.41 during mid-day trading on Monday, reaching $298.15. The company had a trading volume of 670,521 shares, compared to its average volume of 915,766. The business has a fifty day simple moving average of $266.79 and a 200 day simple moving average of $264.05. The company has a market cap of $43.65 billion, a P/E ratio of 57.78 and a beta of 1.01. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $306.50.
Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. Quanta Services's quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.47 EPS. On average, equities research analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current year.
Quanta Services Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services's dividend payout ratio is presently 6.98%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Northland Securities lifted their price target on shares of Quanta Services from $264.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. Truist Financial reaffirmed a "buy" rating and issued a $319.00 price objective (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. TD Cowen upped their target price on Quanta Services from $270.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, August 8th. Robert W. Baird raised their price target on Quanta Services from $287.00 to $288.00 and gave the stock an "outperform" rating in a research report on Friday, July 19th. Finally, Jefferies Financial Group assumed coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a "hold" rating and a $256.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $286.69.
Read Our Latest Stock Analysis on Quanta Services
Insiders Place Their Bets
In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value of $6,318,302.07. Following the completion of the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related 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 value of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the sale, the insider now directly owns 21,286 shares of the company's stock, valued at approximately $5,490,297.98. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock valued at $53,115,572 in the last ninety days. 1.10% of the stock is currently owned by insiders.
Quanta Services Company Profile
(
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.
Further Reading
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