Quanta Services, Inc. (NYSE:PWR) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 14.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 356,016 shares of the construction company's stock after purchasing an additional 45,400 shares during the period. Handelsbanken Fonder AB owned 0.24% of Quanta Services worth $106,146,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Canandaigua National Bank & Trust Co. purchased a new stake in Quanta Services in the 3rd quarter valued at $217,000. Farmers Trust Co. boosted its position in shares of Quanta Services by 26.0% during the 3rd quarter. Farmers Trust Co. now owns 1,380 shares of the construction company's stock valued at $411,000 after acquiring an additional 285 shares during the last quarter. Czech National Bank grew its holdings in shares of Quanta Services by 7.9% in the third quarter. Czech National Bank now owns 30,012 shares of the construction company's stock valued at $8,948,000 after purchasing an additional 2,185 shares during the period. Mattson Financial Services LLC acquired a new stake in Quanta Services during the second quarter worth about $1,433,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Quanta Services during the second quarter worth about $634,000. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the company's stock in a transaction dated Wednesday, August 14th. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 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 approximately $2,875,791.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated 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 position. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 in the last ninety days. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PWR shares. Wolfe Research began coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an "outperform" rating and a $313.00 price target for the company. Robert W. Baird increased their price target on Quanta Services from $287.00 to $288.00 and gave the stock an "outperform" rating in a report on Friday, July 19th. Northland Securities boosted their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the company an "outperform" rating in a report on Friday, August 2nd. TD Cowen increased their target price on shares of Quanta Services from $270.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Finally, Truist Financial reiterated a "buy" rating and set a $319.00 price target (up from $305.00) on shares of Quanta Services in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $290.23.

Quanta Services Stock Up 2.5 %

Shares of Quanta Services stock traded up $7.32 during trading hours on Friday, reaching $305.72. 619,574 shares of the company were exchanged, compared to its average volume of 909,987. The firm has a market cap of $44.75 billion, a PE ratio of 59.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $306.50. The stock's fifty day moving average is $270.34 and its 200 day moving average is $265.33.

Quanta Services (NYSE:PWR - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the company earned $1.47 EPS. Quanta Services's revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities research analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services's dividend payout ratio is presently 6.98%.

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.

Want to see what other hedge funds are holding PWR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quanta Services, Inc. (NYSE:PWR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.