Segment Wealth Management LLC Has $18.14 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Segment Wealth Management LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 220.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,842 shares of the construction company's stock after buying an additional 41,880 shares during the period. Quanta Services accounts for about 1.2% of Segment Wealth Management LLC's investment portfolio, making the stock its 19th biggest holding. Segment Wealth Management LLC's holdings in Quanta Services were worth $18,140,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. EntryPoint Capital LLC bought a new stake in Quanta Services in the first quarter valued at approximately $25,000. Private Ocean LLC bought a new stake in Quanta Services in the first quarter valued at approximately $26,000. Salomon & Ludwin LLC bought a new stake in Quanta Services in the first quarter valued at approximately $26,000. Cambridge Trust Co. bought a new stake in Quanta Services in the first quarter valued at approximately $26,000. Finally, Valley Wealth Managers Inc. bought a new stake in Quanta Services in the second quarter valued at approximately $33,000. 90.49% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction dated 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 sale, the chief operating officer now owns 29,002 shares of the company's stock, valued at approximately $7,541,390.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction dated 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 sale, the chief operating officer now owns 29,002 shares of the company's stock, valued at approximately $7,541,390.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated 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 $5,490,297.98. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,357 shares of company stock valued at $53,115,572. Company insiders own 1.10% of the company's stock.

Quanta Services Stock Performance

Shares of PWR traded down $6.34 during midday trading on Wednesday, reaching $306.63. The stock had a trading volume of 936,752 shares, compared to its average volume of 889,727. The firm has a 50 day simple moving average of $284.75 and a 200-day simple moving average of $270.21. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $317.91. The firm has a market cap of $44.89 billion, a PE ratio of 59.42 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 quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 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 company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the firm posted $1.47 EPS. The company's quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PWR shares. Robert W. Baird upped 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. UBS Group raised their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a report on Wednesday. Truist Financial raised their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. TD Cowen raised their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. started coverage on shares of Quanta Services in a report on Monday, October 7th. They set a "neutral" rating and a $297.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $308.07.

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.