Swedbank AB lifted its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 960,081 shares of the construction company's stock after buying an additional 42,579 shares during the quarter. Swedbank AB owned approximately 0.66% of Quanta Services worth $286,248,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. NBC Securities Inc. increased its position in shares of Quanta Services by 0.8% during the third quarter. NBC Securities Inc. now owns 11,263 shares of the construction company's stock worth $3,358,000 after acquiring an additional 91 shares during the period. Creative Planning increased its holdings in Quanta Services by 7.5% during the 3rd quarter. Creative Planning now owns 22,262 shares of the construction company's stock worth $6,637,000 after purchasing an additional 1,562 shares during the period. CX Institutional acquired a new stake in Quanta Services in the 3rd quarter valued at about $208,000. Fiduciary Alliance LLC boosted its stake in shares of Quanta Services by 17.1% in the 3rd quarter. Fiduciary Alliance LLC now owns 21,227 shares of the construction company's stock valued at $6,329,000 after buying an additional 3,097 shares during the period. Finally, ORG Partners LLC increased its stake in shares of Quanta Services by 129.1% during the third quarter. ORG Partners LLC now owns 804 shares of the construction company's stock worth $240,000 after buying an additional 453 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. began coverage on Quanta Services in a research report on Monday, October 7th. They set a "neutral" rating and a $297.00 price objective for the company. B. Riley boosted their target price on Quanta Services from $286.00 to $303.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Wolfe Research assumed coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an "outperform" rating and a $313.00 price target on the stock. Finally, TD Cowen increased their target price on shares of Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a research report on Tuesday. Four 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $303.86.
Read Our Latest Research Report on PWR
Insider Buying and Selling
In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on 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 transaction, the insider now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. 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 owned by corporate insiders.
Quanta Services Price Performance
Shares of NYSE PWR traded down $5.50 during midday trading on Tuesday, hitting $305.48. The company had a trading volume of 618,495 shares, compared to its average volume of 898,873. The business has a 50-day simple moving average of $277.20 and a two-hundred day simple moving average of $267.72. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $313.56. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $44.72 billion, a price-to-earnings ratio of 59.21 and a beta of 1.01.
Quanta Services (NYSE:PWR - Get Free Report) last posted 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. The company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. Quanta Services's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.47 earnings per share. Equities research analysts anticipate that Quanta Services, Inc. will post 7.81 earnings per share for the current year.
Quanta Services Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services's payout ratio is currently 6.98%.
Quanta Services Profile
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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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