Quanta Services, Inc. (NYSE:PWR) Shares Acquired by TruWealth Advisors LLC

TruWealth Advisors LLC lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 7.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,970 shares of the construction company's stock after purchasing an additional 3,245 shares during the period. TruWealth Advisors LLC's holdings in Quanta Services were worth $13,408,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Electron Capital Partners LLC lifted its position in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock valued at $666,260,000 after acquiring an additional 2,092,519 shares in the last quarter. Swedbank AB acquired a new stake in Quanta Services during the 1st quarter worth $227,218,000. Capital World Investors grew its holdings 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 worth $1,726,042,000 after buying an additional 643,011 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Quanta Services by 1,445.3% during 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, Massachusetts Financial Services Co. MA raised its position in shares of Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock valued at $313,968,000 after buying an additional 186,306 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Karl W. Studer sold 23,357 shares of the firm's stock in a transaction 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 sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company's 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 directly owns 21,286 shares of the company's stock, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the insider now directly owns 10,631 shares in the company, 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. Insiders sold 202,357 shares of company stock worth $53,115,572 in the last 90 days. Corporate insiders own 1.10% of the company's stock.

Quanta Services Trading Up 0.4 %

NYSE PWR traded up $1.13 on Friday, reaching $314.27. The stock had a trading volume of 445,036 shares, compared to its average volume of 893,273. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $316.28. The stock has a fifty day moving average price of $280.62 and a two-hundred day moving average price of $268.66. The firm has a market capitalization of $46.30 billion, a price-to-earnings ratio of 59.05 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the company earned $1.47 EPS. Quanta Services's revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts forecast that Quanta Services, Inc. will post 7.83 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.11%. Quanta Services's dividend payout ratio (DPR) is 6.79%.

Analysts Set New Price Targets

PWR has been the subject of several research reports. JPMorgan Chase & Co. began 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 for the company. B. Riley upped their price target on Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Truist Financial lifted their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Citigroup upped their target price on Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a report on Friday, October 4th. 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 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.