Transform Wealth LLC Grows Position in Quanta Services, Inc. (NYSE:PWR)

Transform Wealth LLC grew its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 48.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,785 shares of the construction company's stock after acquiring an additional 12,946 shares during the period. Quanta Services accounts for 0.8% of Transform Wealth LLC's portfolio, making the stock its 28th largest holding. Transform Wealth LLC's holdings in Quanta Services were worth $11,862,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vontobel Holding Ltd. raised its holdings in Quanta Services by 4.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 350,913 shares of the construction company's stock worth $104,625,000 after purchasing an additional 15,237 shares during the period. Terra Nova Asset Management LLC lifted its stake in shares of Quanta Services by 0.3% during the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company's stock valued at $3,810,000 after buying an additional 38 shares in the last quarter. Sumitomo Life Insurance Co. boosted its holdings in Quanta Services by 149.0% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 4,992 shares of the construction company's stock worth $1,488,000 after buying an additional 2,987 shares during the period. Cascade Investment Group Inc. increased its stake in Quanta Services by 2.4% in the 3rd quarter. Cascade Investment Group Inc. now owns 2,655 shares of the construction company's stock worth $792,000 after buying an additional 62 shares in the last quarter. Finally, First United Bank & Trust bought a new stake in Quanta Services during the third quarter valued at about $353,000. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Trading Up 2.2 %

Shares of Quanta Services stock traded up $6.68 during trading on Wednesday, hitting $312.22. The stock had a trading volume of 487,908 shares, compared to its average volume of 896,819. The stock has a market cap of $45.71 billion, a PE ratio of 60.51 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $313.76. The firm's fifty day simple moving average is $278.34 and its 200-day simple moving average is $268.04. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results 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. 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 analyst estimates of $5.51 billion. During the same quarter in the previous year, the business earned $1.47 earnings per share. The company's revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.81 EPS for the current fiscal year.

Quanta Services Dividend Announcement

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

Insider Activity at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the company's stock in a transaction 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 completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction 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 $155,595,938.42. The trade was 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, insider Karl W. Studer sold 23,357 shares of the firm'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 transaction of $6,318,302.07. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PWR shares. Robert W. Baird raised their target price on shares of Quanta Services from $287.00 to $288.00 and gave the company an "outperform" rating in a research note on Friday, July 19th. Stifel Nicolaus lifted their target price on Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. Jefferies Financial Group initiated coverage on Quanta Services in a research note on Wednesday, September 4th. They set a "hold" rating and a $256.00 price target for the company. Northland Securities lifted their price objective on Quanta Services from $264.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Finally, 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 for the company. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Quanta Services has a consensus rating of "Moderate Buy" and a consensus price target of $303.86.

Quanta Services Company 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.