Westend Capital Management LLC decreased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 21.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,796 shares of the construction company's stock after selling 9,322 shares during the quarter. Quanta Services comprises approximately 3.5% of Westend Capital Management LLC's holdings, making the stock its 10th largest position. Westend Capital Management LLC's holdings in Quanta Services were worth $10,076,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC lifted its stake in Quanta Services by 34.3% during the fourth quarter. V Square Quantitative Management LLC now owns 2,539 shares of the construction company's stock worth $548,000 after purchasing an additional 648 shares during the period. Centaurus Financial Inc. boosted its position in Quanta Services by 28.9% in the 4th quarter. Centaurus Financial Inc. now owns 1,985 shares of the construction company's stock valued at $428,000 after buying an additional 445 shares during the last quarter. Richardson Financial Services Inc. acquired a new position in shares of Quanta Services during the fourth quarter valued at $623,000. Wellington Management Group LLP increased its position 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 purchasing an additional 99,840 shares during the period. Finally, SageView Advisory Group LLC bought a new stake in Quanta Services during the 4th quarter worth about $2,183,000. Institutional investors and hedge funds own 90.49% of the company's stock.
Quanta Services Stock Performance
PWR stock traded up $2.43 during trading hours on Friday, reaching $309.42. The stock had a trading volume of 375,099 shares, compared to its average volume of 902,894. 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 50-day simple moving average of $275.77 and a 200 day simple moving average of $267.36. The stock has a market capitalization of $45.30 billion, a PE ratio of 59.97 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.
Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.47 earnings per share. Analysts predict that Quanta Services, Inc. will post 7.81 EPS for the current fiscal year.
Quanta Services Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were issued a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services's dividend payout ratio is currently 6.98%.
Insiders Place Their Bets
In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The trade was 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 Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares of the company's stock, valued at $5,490,297.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James Redgie Probst sold 34,000 shares of the firm's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the completion of the transaction, the chief operating officer now owns 29,002 shares in the company, valued at $7,541,390.06. 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 worth $53,115,572 over the last three months. Insiders own 1.10% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on PWR. Stifel Nicolaus increased their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the company a "buy" rating in a report on Thursday. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a "neutral" rating and a $297.00 price objective on the stock. Truist Financial boosted their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a report on Wednesday. Northland Securities lifted their target price on Quanta Services from $264.00 to $280.00 and gave the stock an "outperform" rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group started coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a "hold" rating and a $256.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $299.93.
Read Our Latest Analysis on Quanta Services
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.
See Also
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
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
