QRG Capital Management Inc. Raises Stock Position in Quanta Services, Inc. (NYSE:PWR)

QRG Capital Management Inc. grew its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 15.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,512 shares of the construction company's stock after buying an additional 1,636 shares during the period. QRG Capital Management Inc.'s holdings in Quanta Services were worth $3,730,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. EntryPoint Capital LLC bought a new position in Quanta Services during the first quarter valued at approximately $25,000. Cambridge Trust Co. purchased a new stake in shares of Quanta Services during the first quarter valued at approximately $26,000. Valley Wealth Managers Inc. purchased a new stake in shares of Quanta Services during the second quarter valued at approximately $33,000. Quest Partners LLC purchased a new stake in shares of Quanta Services during the second quarter valued at approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in Quanta Services in the second quarter worth $38,000. 90.49% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction 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 directly owns 10,631 shares of the company's stock, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction 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 directly owns 10,631 shares of the company's stock, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company's stock in a transaction on 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 sale, the insider now owns 21,286 shares of the company's stock, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock valued at $53,115,572 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

Quanta Services Stock Up 3.2 %

PWR stock traded up $10.04 during midday trading on Thursday, hitting $320.86. The company's stock had a trading volume of 1,068,618 shares, compared to its average volume of 895,408. The company has a market cap of $47.36 billion, a PE ratio of 57.35 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $167.12 and a 12 month high of $320.99. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The firm's 50-day moving average is $292.81 and its 200-day moving average is $274.22.

Quanta Services (NYSE:PWR - Get Free Report) last released 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 business had revenue of $6.49 billion for the quarter, compared to analysts' expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.08 EPS. On average, equities research analysts forecast that Quanta Services, Inc. will post 7.83 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued 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 0.11%. Quanta Services's payout ratio is 6.64%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Truist Financial raised their price target on Quanta Services from $319.00 to $358.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research note on Monday, October 7th. They issued a "neutral" rating and a $297.00 price target for the company. Robert W. Baird raised their price target on Quanta Services from $320.00 to $333.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. UBS Group raised their price target on Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Jefferies Financial Group assumed coverage on Quanta Services in a report on Wednesday, September 4th. They issued a "hold" rating and a $256.00 price objective for the company. 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.com, the company 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.