Western Financial Corp CA Buys New Shares in Quanta Services, Inc. (NYSE:PWR)

Western Financial Corp CA bought a new position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,845 shares of the construction company's stock, valued at approximately $1,146,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Kennedy Investment Group bought a new position in Quanta Services during the 3rd quarter worth about $750,000. Everence Capital Management Inc. bought a new position in shares of Quanta Services in the 3rd quarter valued at about $400,000. Clarus Group Inc. bought a new position in shares of Quanta Services in the 3rd quarter valued at about $1,198,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Quanta Services by 14.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 338,430 shares of the construction company's stock valued at $100,903,000 after acquiring an additional 42,557 shares in the last quarter. Finally, Schubert & Co bought a new position in shares of Quanta Services in the 3rd quarter valued at about $238,000. Institutional investors own 90.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PWR shares. TD Cowen raised their price objective on Quanta Services from $280.00 to $335.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Citigroup raised their price objective on Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a report on Friday, October 4th. B. Riley raised their target price on shares of Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their target price on shares of Quanta Services from $283.00 to $342.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, 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. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $303.86.

Insider Transactions at Quanta Services

In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction that occurred on 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 transaction, the insider now directly owns 21,286 shares of the company's stock, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction that occurred on 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 transaction, the insider now directly owns 21,286 shares of the company's stock, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the completion of the transaction, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. 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 ninety days, insiders have sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by company insiders.

Quanta Services Stock Performance

PWR stock traded up $3.37 during mid-day trading on Monday, hitting $317.64. 512,004 shares of the company were exchanged, compared to its average volume of 891,396. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $317.91. The business has a 50 day simple moving average of $281.72 and a 200-day simple moving average of $269.18. The stock has a market capitalization of $46.50 billion, a PE ratio of 60.91 and a beta of 1.01. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR - Get Free Report) last announced its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company had revenue of $5.59 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same period last year, the firm earned $1.47 earnings per share. The business's revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities analysts forecast that Quanta Services, Inc. will post 7.83 earnings per share for the current 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 issued a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. Quanta Services's dividend payout ratio is presently 6.98%.

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.