Geneva Partners LLC Invests $1.86 Million in Quanta Services, Inc. (NYSE:PWR)

Geneva Partners LLC acquired a new position in Quanta Services, Inc. (NYSE:PWR - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,236 shares of the construction company's stock, valued at approximately $1,859,000.

A number of other large investors have also recently made changes to their positions in PWR. EntryPoint Capital LLC bought a new stake in shares of Quanta Services in the first quarter worth about $25,000. Salomon & Ludwin LLC purchased a new position in Quanta Services in the first quarter worth about $26,000. Cambridge Trust Co. bought a new stake in Quanta Services in the first quarter worth $26,000. Valley Wealth Managers Inc. bought a new position in Quanta Services during the second quarter valued at $33,000. Finally, Quest Partners LLC bought a new stake in Quanta Services in the second quarter worth about $35,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Quanta Services

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 transaction of $6,318,302.07. Following the transaction, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm's stock in a transaction that occurred 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 owns 21,286 shares in the company, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the firm'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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,357 shares of company stock valued at $53,115,572. Corporate insiders own 1.10% of the company's stock.

Quanta Services Stock Performance

Quanta Services stock traded up $10.30 on Tuesday, reaching $314.62. 839,087 shares of the stock were exchanged, compared to its average volume of 886,850. The stock has a market cap of $46.44 billion, a PE ratio of 56.15 and a beta of 1.01. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Quanta Services, Inc. has a twelve month low of $163.93 and a twelve month high of $317.91. The firm has a fifty day moving average price of $291.06 and a two-hundred day moving average price of $273.46.

Quanta Services (NYSE:PWR - Get Free Report) last posted its earnings results 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. The business had revenue of $6.49 billion for 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%. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share. 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. Investors of record on Tuesday, October 1st were issued a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services's payout ratio is presently 6.64%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PWR. Stifel Nicolaus raised their target price on shares of Quanta Services from $283.00 to $342.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Truist Financial increased their target price on Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. B. Riley boosted their price target on Quanta Services from $286.00 to $303.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. Robert W. Baird increased their price target on shares of Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Wolfe Research started coverage on Quanta Services in a research note on Thursday, September 19th. They set an "outperform" rating and a $313.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services presently has an average rating of "Moderate Buy" and an average target price of $314.27.

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.