Sanibel Captiva Trust Company Inc. raised its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 156.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,485 shares of the construction company's stock after buying an additional 4,570 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Quanta Services were worth $2,232,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. EntryPoint Capital LLC acquired a new stake in shares of Quanta Services in the 1st quarter valued at $25,000. Private Ocean LLC acquired a new stake in shares of Quanta Services in the 1st quarter valued at $26,000. Salomon & Ludwin LLC acquired a new position in Quanta Services during the 1st quarter worth about $26,000. Cambridge Trust Co. acquired a new position in Quanta Services during the 1st quarter worth about $26,000. Finally, Valley Wealth Managers Inc. acquired a new position in Quanta Services during the 2nd quarter worth about $33,000. Institutional investors own 90.49% of the company's stock.
Analyst Upgrades and Downgrades
PWR has been the topic of several research reports. Wolfe Research initiated 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. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research report on Monday. They set a "neutral" rating and a $297.00 price target on the stock. Citigroup upped their price target 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. B. Riley upped their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus upped their target price on shares of Quanta Services from $283.00 to $342.00 and gave the company a "buy" rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Quanta Services currently has a consensus rating of "Moderate Buy" and an average price target of $299.93.
Read Our Latest Report on PWR
Quanta Services Trading Up 0.8 %
Shares of PWR stock traded up $2.43 on Friday, reaching $309.42. The company had a trading volume of 375,053 shares, compared to its average volume of 902,894. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The stock has a market cap of $45.59 billion, a PE ratio of 57.92 and a beta of 1.01. The company has a 50-day moving average of $274.40 and a 200-day moving average of $266.88. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $312.52.
Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.59 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the prior year, the business earned $1.47 EPS. Quanta Services's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities analysts forecast that Quanta Services, Inc. will post 7.81 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 paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services's payout ratio is 6.79%.
Insider Buying and Selling
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 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 593,402 shares of the company's stock, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is owned by corporate insiders.
About Quanta Services
(
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.
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