Rockingstone Advisors LLC Takes $2.33 Million Position in Quanta Services, Inc. (NYSE:PWR)

Rockingstone Advisors LLC bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,826 shares of the construction company's stock, valued at approximately $2,333,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nomura Holdings Inc. acquired a new stake in Quanta Services in the 4th quarter valued at approximately $631,000. Wellington Management Group LLP lifted its stake in Quanta Services by 581.3% in the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company's stock worth $25,252,000 after acquiring an additional 99,840 shares during the last quarter. Vanguard Group Inc. grew its holdings in Quanta Services by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company's stock worth $3,503,702,000 after acquiring an additional 191,334 shares in the last quarter. Allen Investment Management LLC increased its position in shares of Quanta Services by 1,418.0% in the 1st quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company's stock valued at $8,676,000 after purchasing an additional 31,196 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Quanta Services by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company's stock valued at $9,366,000 after purchasing an additional 1,981 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PWR. Wolfe Research started coverage on Quanta Services in a research report on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price on the stock. Citigroup boosted their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Robert W. Baird upped their target price on shares of Quanta Services from $287.00 to $288.00 and gave the company an "outperform" rating in a report on Friday, July 19th. Northland Securities lifted their price target on shares of Quanta Services from $264.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Finally, TD Cowen upped their price objective on shares of Quanta Services from $270.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $293.50.

Insider Activity

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the firm's stock in a transaction 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 transaction, the insider now owns 10,631 shares of the company's stock, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO James Redgie Probst sold 34,000 shares of the company's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the transaction, the chief operating officer now owns 29,002 shares of the company's stock, valued at approximately $7,541,390.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services 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 directly 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 disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock worth $53,115,572 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Quanta Services Price Performance

Quanta Services stock traded down $1.06 during midday trading on Wednesday, reaching $307.61. The company's stock had a trading volume of 582,048 shares, compared to its average volume of 907,182. The firm has a market capitalization of $45.03 billion, a PE ratio of 59.57 and a beta of 1.01. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $312.52. The stock's 50 day simple moving average is $272.51 and its 200 day simple moving average is $266.31. 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 (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 company had revenue of $5.59 billion during the quarter, compared to analysts' expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. On average, equities research analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Announces Dividend

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 issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend is Tuesday, October 1st. Quanta Services's dividend payout ratio (DPR) 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.