Asio Capital LLC Buys New Shares in Quanta Services, Inc. (NYSE:PWR)

Asio Capital LLC purchased a new position in 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 firm purchased 9,107 shares of the construction company's stock, valued at approximately $2,715,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Electron Capital Partners LLC lifted 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 in the last quarter. Swedbank AB bought a new position in Quanta Services in the 1st quarter worth approximately $227,218,000. Capital World Investors raised its position in shares of Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company's stock valued at $1,726,042,000 after buying an additional 643,011 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Quanta Services by 1,445.3% in the second quarter. American Century Companies Inc. now owns 395,152 shares of the construction company's stock worth $100,404,000 after buying an additional 369,581 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Quanta Services by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 16,235,875 shares of the construction company's stock valued at $3,503,702,000 after acquiring an additional 191,334 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 research analysts have commented on PWR shares. Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an "outperform" rating and a $313.00 price objective for the company. B. Riley boosted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Northland Securities increased their price objective 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 upped their target price on shares of Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Robert W. Baird lifted 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. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $299.93.

Quanta Services Trading Up 0.8 %

Shares of PWR traded up $2.43 during trading hours on Friday, reaching $309.42. 375,099 shares of the company traded hands, compared to its average volume of 902,894. The firm has a market cap of $45.30 billion, a price-to-earnings ratio of 59.97 and a beta of 1.01. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $312.52. The stock's fifty day moving average price is $275.77 and its 200 day moving average price is $267.31. 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 (NYSE:PWR - Get Free Report) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period last year, the company posted $1.47 earnings per share. The company's quarterly revenue was up 10.8% compared to the same quarter last year. Sell-side analysts forecast that Quanta Services, Inc. will post 7.81 earnings per share for the current year.

Quanta Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services's dividend payout ratio (DPR) is 6.98%.

Insider Activity

In related news, 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO James Redgie Probst sold 34,000 shares of the company's stock in a transaction dated Friday, August 9th. The stock was 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 directly owns 29,002 shares of the company's stock, valued at $7,541,390.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Karl W. Studer sold 23,357 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $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 quarter, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Profile

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.