FCF Advisors LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,941 shares of the construction company's stock, valued at approximately $2,069,000.
A number of other hedge funds have also recently added to or reduced their stakes in PWR. Electron Capital Partners LLC grew its stake in shares of Quanta Services by 395.1% during the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after buying an additional 2,092,519 shares during the period. Swedbank AB purchased a new position in shares of Quanta Services in the 1st quarter worth about $227,218,000. Capital World Investors lifted its stake in shares of Quanta Services by 10.7% in the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company's stock valued at $1,726,042,000 after purchasing an additional 643,011 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Quanta Services by 1,445.3% during the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company's stock worth $100,404,000 after purchasing an additional 369,581 shares during the period. Finally, Sei Investments Co. increased its position in Quanta Services by 393.9% during the 4th quarter. Sei Investments Co. now owns 324,223 shares of the construction company's stock worth $69,966,000 after purchasing an additional 258,580 shares in the last quarter. 90.49% of the stock is owned by institutional investors and hedge funds.
Quanta Services Stock Up 0.4 %
Shares of NYSE:PWR traded up $1.16 during midday trading on Tuesday, reaching $308.67. The company had a trading volume of 788,119 shares, compared to its average volume of 908,857. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $312.52. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The stock has a market capitalization of $45.19 billion, a P/E ratio of 59.59 and a beta of 1.01. The stock's fifty day moving average price is $271.37 and its 200-day moving average price is $265.94.
Quanta Services (NYSE:PWR - Get Free Report) last issued its 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. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company's revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.47 EPS. Equities research analysts expect that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.
Quanta Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. Quanta Services's dividend payout ratio (DPR) is 6.98%.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Wolfe Research started coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an "outperform" rating and a $313.00 price target on the stock. Citigroup lifted their target price on shares of Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a report on Friday. Truist Financial reiterated a "buy" rating and issued a $319.00 price target (up from $305.00) on shares of Quanta Services in a report on Monday, August 5th. JPMorgan Chase & Co. began coverage on Quanta Services in a research note on Monday. They set a "neutral" rating and a $297.00 price objective on the stock. Finally, Robert W. Baird increased their target price on Quanta Services from $287.00 to $288.00 and gave the company an "outperform" rating in a research note on Friday, July 19th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $290.71.
Read Our Latest Research Report on PWR
Insider Activity at Quanta Services
In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction 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 owns 10,631 shares of the company's stock, valued at $2,875,791.81. The trade was 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 link. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $6,318,302.07. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,357 shares of company stock valued at $53,115,572. Corporate insiders own 1.10% of the company's stock.
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.
Featured Articles
Before you consider Quanta Services, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Quanta Services wasn't on the list.
While Quanta Services currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
