Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Plato Investment Management Ltd

Plato Investment Management Ltd raised its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 67,200.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,365 shares of the construction company's stock after acquiring an additional 3,360 shares during the period. Plato Investment Management Ltd's holdings in Quanta Services were worth $1,002,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of PWR. Tower Wealth Partners Inc. raised its holdings in Quanta Services by 3.1% during the third quarter. Tower Wealth Partners Inc. now owns 1,122 shares of the construction company's stock worth $335,000 after purchasing an additional 34 shares during the last quarter. Terra Nova Asset Management LLC increased its holdings in Quanta Services by 0.3% during the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company's stock valued at $3,810,000 after acquiring an additional 38 shares in the last quarter. Greenleaf Trust raised its position in Quanta Services by 1.2% during the third quarter. Greenleaf Trust now owns 3,154 shares of the construction company's stock worth $940,000 after acquiring an additional 38 shares during the last quarter. EP Wealth Advisors LLC grew its position in shares of Quanta Services by 0.6% in the second quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company's stock valued at $1,777,000 after purchasing an additional 39 shares during the last quarter. Finally, Whittier Trust Co. increased its stake in shares of Quanta Services by 0.7% during the 3rd quarter. Whittier Trust Co. now owns 5,894 shares of the construction company's stock worth $1,757,000 after purchasing an additional 39 shares in the last quarter. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Quanta Services Stock Down 0.2 %

PWR stock traded down $0.54 during midday trading on Friday, hitting $323.33. 900,887 shares of the company's stock were exchanged, compared to its average volume of 896,390. The stock has a market capitalization of $47.73 billion, a price-to-earnings ratio of 59.75 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 12-month low of $180.97 and a 12-month high of $335.00. The firm has a 50 day moving average price of $300.29 and a 200-day moving average price of $277.12.

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, topping the consensus estimate of $2.46 by $0.26. The firm 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 revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the business posted $2.08 earnings per share. On average, analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given 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 yield of 0.11%. Quanta Services's dividend payout ratio is currently 6.64%.

Insider Buying and Selling

In other news, 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 completion of the transaction, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 68.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PWR shares. UBS Group boosted their price target on Quanta Services from $313.00 to $367.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. TD Cowen raised their target price 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. Wolfe Research initiated coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an "outperform" rating and a $313.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They issued a "hold" rating and a $256.00 target price on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a "neutral" rating and a $297.00 price target for the company. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Quanta Services presently has an average rating of "Moderate Buy" and a consensus 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.