Quanta Services, Inc. (NYSE:PWR) Shares Bought by Global Retirement Partners LLC

Global Retirement Partners LLC lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 16.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,797 shares of the construction company's stock after acquiring an additional 2,484 shares during the quarter. Global Retirement Partners LLC's holdings in Quanta Services were worth $5,306,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PWR. Wellington Management Group LLP lifted its position in Quanta Services by 581.3% in the 4th quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company's stock worth $25,252,000 after buying an additional 99,840 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Quanta Services in the fourth quarter worth approximately $631,000. Newbridge Financial Services Group Inc. bought a new position in Quanta Services during the fourth quarter valued at approximately $34,000. Moody National Bank Trust Division acquired a new position in shares of Quanta Services during the 1st quarter worth $202,000. Finally, CWM LLC boosted its holdings in Quanta Services by 1.6% in the first quarter. CWM LLC now owns 4,919 shares of the construction company's stock worth $1,278,000 after purchasing an additional 76 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm's stock in a transaction on 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 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 sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the transaction, the insider now directly owns 21,286 shares in the company, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the firm'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 transaction of $34,087,300.00. Following the sale, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock valued at $53,115,572 in the last ninety days. 1.10% of the stock is owned by company insiders.

Quanta Services Stock Up 0.3 %

PWR stock traded up $0.92 during trading on Thursday, hitting $313.14. 624,788 shares of the stock traded hands, compared to its average volume of 895,482. The firm's 50 day moving average is $279.62 and its two-hundred day moving average is $268.35. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $316.28. 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 market cap of $45.84 billion, a price-to-earnings ratio of 60.69 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. The business had revenue of $5.59 billion for the quarter, compared to analysts' expectations of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company's revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.47 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.81 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services's payout ratio is 6.98%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PWR shares. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research report on Monday, October 7th. They set a "neutral" rating and a $297.00 target price for the company. Robert W. Baird increased their price objective on Quanta Services from $287.00 to $288.00 and gave the company an "outperform" rating in a research report on Friday, July 19th. Northland Securities raised 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. B. Riley boosted their price target on Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a "hold" rating and a $256.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $303.86.

About Quanta Services

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.