Waverton Investment Management Ltd Grows Stake in Quanta Services, Inc. (NYSE:PWR)

Waverton Investment Management Ltd lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 6.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 41,963 shares of the construction company's stock after acquiring an additional 2,557 shares during the period. Waverton Investment Management Ltd's holdings in Quanta Services were worth $12,509,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Tower Wealth Partners Inc. grew its stake in shares of 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 acquiring an additional 34 shares during the last quarter. Terra Nova Asset Management LLC lifted its holdings in shares of Quanta Services by 0.3% during the third quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company's stock worth $3,810,000 after purchasing an additional 38 shares during the period. Greenleaf Trust lifted its holdings in shares of 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 purchasing an additional 38 shares during the period. EP Wealth Advisors LLC lifted its holdings in shares of Quanta Services by 0.6% during the second quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company's stock worth $1,777,000 after purchasing an additional 39 shares during the period. Finally, Whittier Trust Co. lifted its holdings in shares of Quanta Services by 0.7% during the third 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 during the period. Hedge funds and other institutional investors own 90.49% of the company's stock.

Quanta Services Trading Down 0.7 %

NYSE:PWR traded down $2.32 during trading hours on Tuesday, hitting $327.37. The company had a trading volume of 606,200 shares, compared to its average volume of 896,689. 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 company has a 50-day moving average of $297.41 and a 200 day moving average of $276.44. The company has a market cap of $48.32 billion, a P/E ratio of 60.40 and a beta of 1.01. Quanta Services, Inc. has a 1 year low of $173.62 and a 1 year high of $335.00.

Quanta Services (NYSE:PWR - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the prior year, the company posted $2.08 EPS. The company's quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts expect that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services's dividend payout ratio (DPR) is presently 6.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PWR shares. Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They set an "outperform" rating and a $313.00 target price for the company. TD Cowen lifted their target price on Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. B. Riley lifted their target price on Quanta Services from $286.00 to $303.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. started coverage on Quanta Services in a report on Monday, October 7th. They issued a "neutral" rating and a $297.00 price target for the company. Finally, Stifel Nicolaus boosted their price target on Quanta Services from $283.00 to $342.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and a consensus target price of $314.27.

Insider Activity

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, the chief executive officer now owns 593,402 shares of the company's stock, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 593,402 shares in the company, valued at $155,595,938.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

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.