Valley National Advisers Inc. Acquires 6,697 Shares of Quanta Services, Inc. (NYSE:PWR)

Valley National Advisers Inc. boosted its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 2,733.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,942 shares of the construction company's stock after acquiring an additional 6,697 shares during the quarter. Valley National Advisers Inc.'s holdings in Quanta Services were worth $2,068,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PWR. Terra Nova Asset Management LLC lifted its holdings in shares of Quanta Services by 0.3% in the third quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company's stock valued at $3,810,000 after purchasing an additional 38 shares in the last quarter. Greenleaf Trust lifted its stake in Quanta Services by 1.2% during the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company's stock valued at $940,000 after acquiring an additional 38 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Quanta Services by 0.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company's stock worth $1,777,000 after acquiring an additional 39 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Quanta Services by 0.7% in the 3rd quarter. Whittier Trust Co. now owns 5,894 shares of the construction company's stock worth $1,757,000 after acquiring an additional 39 shares in the last quarter. Finally, Westside Investment Management Inc. raised its holdings in shares of Quanta Services by 20.5% in the second quarter. Westside Investment Management Inc. now owns 241 shares of the construction company's stock valued at $61,000 after purchasing an additional 41 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Truist Financial upped their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. B. Riley increased 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. Jefferies Financial Group began coverage on Quanta Services in a research report on Wednesday, September 4th. They issued a "hold" rating and a $256.00 price objective on the stock. Citigroup raised their target price on Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a research report on Friday, October 4th. Finally, UBS Group increased their price target on shares of Quanta Services from $313.00 to $367.00 and gave the company a "buy" rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $308.07.

Quanta Services Stock Performance

Shares of NYSE:PWR traded down $1.70 during midday trading on Friday, reaching $308.17. 671,361 shares of the company traded hands, compared to its average volume of 887,092. The firm's fifty day moving average price is $286.43 and its two-hundred day moving average price is $271.02. The firm has a market capitalization of $45.11 billion, a price-to-earnings ratio of 59.72 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, Inc. has a 12 month low of $153.74 and a 12 month high of $317.91.

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

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services's dividend payout ratio is 6.98%.

Insider Buying and Selling

In related news, 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 completion of the sale, the insider now directly owns 10,631 shares of the company's stock, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. This 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 worth $53,115,572 over the last ninety days. 1.10% of the stock is owned by corporate 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.