Meridian Financial Partners LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,660 shares of the construction company's stock, valued at approximately $793,000.
Several other institutional investors and hedge funds have also bought and sold shares of PWR. Stratos Wealth Advisors LLC lifted its holdings in shares of Quanta Services by 8.5% during the third quarter. Stratos Wealth Advisors LLC now owns 3,645 shares of the construction company's stock valued at $1,087,000 after purchasing an additional 285 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Quanta Services by 2.7% during the third quarter. Stratos Wealth Partners LTD. now owns 27,720 shares of the construction company's stock valued at $8,265,000 after purchasing an additional 721 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Quanta Services by 20.4% during the third quarter. V Square Quantitative Management LLC now owns 2,884 shares of the construction company's stock valued at $860,000 after purchasing an additional 489 shares during the last quarter. Onyx Bridge Wealth Group LLC purchased a new position in shares of Quanta Services during the third quarter valued at approximately $357,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Quanta Services by 18.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,424 shares of the construction company's stock valued at $8,773,000 after purchasing an additional 4,630 shares during the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.
Quanta Services Stock Performance
NYSE:PWR traded up $1.13 during trading hours on Friday, reaching $314.27. The company had a trading volume of 449,202 shares, compared to its average volume of 893,273. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $316.28. The firm's 50 day moving average price is $281.72 and its 200-day moving average price is $269.05. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The firm has a market cap of $46.01 billion, a price-to-earnings ratio of 60.91 and a beta of 1.01.
Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the firm posted $1.47 EPS. The company's revenue for the quarter was up 10.8% compared to the same quarter last year. On average, analysts forecast that Quanta Services, Inc. will post 7.83 EPS for the current year.
Quanta Services Dividend Announcement
The firm also recently disclosed 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services's payout ratio is 6.98%.
Insider Activity
In other 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 sale, the insider now 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 SEC, which is available at this link. In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction 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 transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services 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 transaction, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock valued at $53,115,572 in the last 90 days. Company insiders own 1.10% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on PWR shares. Robert W. Baird lifted their target price on shares of Quanta Services from $287.00 to $288.00 and gave the company an "outperform" rating in a report on Friday, July 19th. B. Riley raised their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Northland Securities raised their price target on shares of Quanta Services from $264.00 to $280.00 and gave the company an "outperform" rating in a research report on Friday, August 2nd. Stifel Nicolaus raised their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a "neutral" rating and a $297.00 price target 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 MarketBeat, Quanta Services presently has a consensus rating of "Moderate Buy" and an average price target of $303.86.
View 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.
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