Quanta Services, Inc. (NYSE:PWR) Shares Bought by Tower View Wealth Management LLC

Tower View Wealth Management LLC grew its holdings in Quanta Services, Inc. (NYSE:PWR - Free Report) by 37.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,679 shares of the construction company's stock after purchasing an additional 4,503 shares during the period. Quanta Services comprises approximately 2.7% of Tower View Wealth Management LLC's holdings, making the stock its 12th largest holding. Tower View Wealth Management LLC's holdings in Quanta Services were worth $4,973,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cavalier Investments LLC grew its stake in Quanta Services by 5.6% in the third quarter. Cavalier Investments LLC now owns 1,300 shares of the construction company's stock worth $388,000 after purchasing an additional 69 shares in the last quarter. Valley National Advisers Inc. raised its position in Quanta Services by 2,733.5% during the 3rd quarter. Valley National Advisers Inc. now owns 6,942 shares of the construction company's stock valued at $2,068,000 after purchasing an additional 6,697 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Quanta Services by 3.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 517,038 shares of the construction company's stock worth $155,196,000 after buying an additional 14,865 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Quanta Services by 40.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 51,845 shares of the construction company's stock valued at $15,458,000 after buying an additional 14,983 shares during the period. Finally, Forsta AP Fonden raised its holdings in shares of Quanta Services by 11.4% in the third quarter. Forsta AP Fonden now owns 30,200 shares of the construction company's stock valued at $9,004,000 after acquiring an additional 3,100 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Performance

Shares of Quanta Services stock traded up $5.19 on Monday, reaching $313.36. 700,171 shares of the stock were exchanged, compared to its average volume of 886,518. 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 twelve month low of $153.74 and a twelve month high of $317.91. The business has a 50 day moving average price of $287.34 and a two-hundred day moving average price of $271.41. The firm has a market capitalization of $46.17 billion, a price-to-earnings ratio of 59.12 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last released its quarterly earnings data 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. 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 for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the business earned $1.47 earnings per share. The business's quarterly revenue was up 10.8% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services's dividend payout ratio (DPR) is 6.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. B. Riley boosted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Northland Securities upped their price objective on Quanta Services from $264.00 to $280.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on Quanta Services in a research report on Wednesday, September 4th. They set a "hold" rating and a $256.00 price objective on the stock. Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They issued an "outperform" rating and a $313.00 target price for the company. Finally, UBS Group boosted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Quanta Services currently has an average rating of "Moderate Buy" and a consensus price target of $308.07.

Insider Activity at Quanta Services

In related 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 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 $5,490,297.98. The trade was a 0.00 % decrease in their position. The transaction 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 Quanta Services stock in a transaction dated Friday, August 9th. The stock was 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 owns 21,286 shares in the company, valued at $5,490,297.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by corporate insiders.

Quanta Services 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.