Prossimo Advisors LLC Buys Shares of 4,842 Quanta Services, Inc. (NYSE:PWR)

Prossimo Advisors LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,842 shares of the construction company's stock, valued at approximately $1,444,000. Quanta Services comprises about 1.1% of Prossimo Advisors LLC's holdings, making the stock its 20th biggest position.

Other institutional investors have also modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in Quanta Services in the first quarter worth about $25,000. Salomon & Ludwin LLC acquired a new position in Quanta Services during the 1st quarter valued at approximately $26,000. Cambridge Trust Co. purchased a new position in shares of Quanta Services in the first quarter worth $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Quanta Services in the second quarter worth $33,000. Finally, Quest Partners LLC acquired a new position in shares of Quanta Services in the 2nd quarter valued at $35,000. 90.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction dated Wednesday, August 14th. The shares were 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 directly owns 593,402 shares in the company, valued at $155,595,938.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm's 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 completion of the sale, the insider now directly owns 21,286 shares of the company's stock, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. 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 sold 202,357 shares of company stock worth $53,115,572. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

PWR has been the subject of a number of research reports. Robert W. Baird lifted their price target on Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research report on Friday. Citigroup upped 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. TD Cowen raised their price target on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a "hold" rating and a $256.00 price objective on the stock. Finally, B. Riley raised their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $314.27.

Quanta Services Price Performance

NYSE PWR traded up $1.87 during mid-day trading on Friday, hitting $303.50. The stock had a trading volume of 913,124 shares, compared to its average volume of 661,167. Quanta Services, Inc. has a twelve month low of $163.93 and a twelve month high of $317.91. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.25. The firm's 50 day moving average is $290.40 and its 200 day moving average is $272.85. The stock has a market capitalization of $44.71 billion, a price-to-earnings ratio of 56.00 and a beta of 1.01.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to analysts' expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. Quanta Services's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.08 EPS. Equities research analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. Quanta Services's payout ratio is 6.64%.

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.