Janney Montgomery Scott LLC Grows Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Janney Montgomery Scott LLC lifted its position in Quanta Services, Inc. (NYSE:PWR - Free Report) by 12.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,886 shares of the construction company's stock after purchasing an additional 16,520 shares during the period. Janney Montgomery Scott LLC owned about 0.10% of Quanta Services worth $44,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Quanta Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company's stock worth $4,245,452,000 after acquiring an additional 105,355 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Quanta Services by 2.4% during the first quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company's stock worth $1,756,316,000 after acquiring an additional 156,627 shares during the last quarter. Capital World Investors boosted its position in shares of Quanta Services by 10.7% during the first quarter. Capital World Investors now owns 6,643,733 shares of the construction company's stock worth $1,726,042,000 after acquiring an additional 643,011 shares during the last quarter. Electron Capital Partners LLC boosted its position in shares of Quanta Services by 395.1% during the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company's stock worth $666,260,000 after acquiring an additional 2,092,519 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company's stock worth $313,968,000 after acquiring an additional 186,306 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the subject of a number of research reports. Truist Financial upped their target price 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. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. UBS Group lifted 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. TD Cowen lifted their price objective on shares of Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Finally, B. Riley lifted their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $314.27.

Insider Activity

In other news, insider Karl W. Studer sold 23,357 shares of the business's stock in a transaction dated 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 completion of the sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO James Redgie Probst sold 34,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 29,002 shares in the company, valued at $7,541,390.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Karl W. Studer sold 23,357 shares of the business'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 transaction of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares of the company's stock, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Trading Up 0.3 %

PWR traded up $0.82 on Monday, reaching $304.32. 713,393 shares of the company traded hands, compared to its average volume of 887,075. Quanta Services, Inc. has a one year low of $163.93 and a one year high of $317.91. The firm has a fifty day simple moving average of $290.40 and a two-hundred day simple moving average of $273.04. The company has a market cap of $44.84 billion, a P/E ratio of 56.09 and a beta of 1.01. The company has a quick ratio of 1.25, a current ratio of 1.23 and a debt-to-equity ratio of 0.58.

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 for the quarter, beating analysts' consensus estimates of $2.46 by $0.26. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same quarter last year, the business posted $2.08 EPS. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities research 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 declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a $0.09 dividend. 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 dividend payout ratio is currently 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.