Quanta Services, Inc. (NYSE:PWR) Shares Purchased by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 97.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,700 shares of the construction company's stock after acquiring an additional 13,700 shares during the quarter. Quanta Services accounts for 0.6% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 28th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in Quanta Services were worth $8,259,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PWR. Wellington Management Group LLP lifted its holdings in shares of 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 during the period. CHICAGO TRUST Co NA purchased a new stake in shares of Quanta Services in the 1st quarter worth $211,000. AdvisorNet Financial Inc lifted its holdings in shares of Quanta Services by 13.5% in the 1st quarter. AdvisorNet Financial Inc now owns 2,269 shares of the construction company's stock worth $589,000 after buying an additional 269 shares during the period. Riverview Trust Co purchased a new stake in shares of Quanta Services in the 1st quarter worth $66,000. Finally, Mechanics Bank Trust Department lifted its holdings in shares of Quanta Services by 63.2% in the 1st quarter. Mechanics Bank Trust Department now owns 4,118 shares of the construction company's stock worth $1,070,000 after buying an additional 1,594 shares during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Trading Down 1.5 %

Shares of NYSE:PWR traded down $4.77 during trading on Tuesday, reaching $312.87. 497,338 shares of the stock were exchanged, compared to its average volume of 889,473. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $317.91. The firm has a market cap of $46.10 billion, a price-to-earnings ratio of 59.93 and a beta of 1.01. The firm's 50-day moving average price is $282.87 and its 200 day moving average price is $269.60.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to analysts' expectations of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. Quanta Services's quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.47 EPS. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services's dividend payout ratio is presently 6.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Robert W. Baird upped their target price on Quanta Services from $287.00 to $288.00 and gave the stock an "outperform" rating in a report on Friday, July 19th. Jefferies Financial Group assumed 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. Truist Financial boosted their target price on shares of Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Stifel Nicolaus boosted 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, Northland Securities boosted their target price on shares of Quanta Services from $264.00 to $280.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $303.86.

Insiders Place Their Bets

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the company'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 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock worth $53,115,572 in the last 90 days. 1.10% of the stock is owned by company insiders.

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.