Quantum Private Wealth LLC Has $1.10 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Quantum Private Wealth LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 113.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,693 shares of the construction company's stock after purchasing an additional 1,963 shares during the quarter. Quantum Private Wealth LLC's holdings in Quanta Services were worth $1,101,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Empirical Finance LLC grew its holdings in Quanta Services by 3.5% in the 1st quarter. Empirical Finance LLC now owns 5,107 shares of the construction company's stock valued at $1,327,000 after buying an additional 175 shares during the last quarter. Empowered Funds LLC increased its position in Quanta Services by 24.2% during the first quarter. Empowered Funds LLC now owns 1,835 shares of the construction company's stock worth $477,000 after acquiring an additional 357 shares during the period. SG Americas Securities LLC raised its stake in Quanta Services by 76.5% during the 1st quarter. SG Americas Securities LLC now owns 50,477 shares of the construction company's stock valued at $13,114,000 after purchasing an additional 21,877 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp bought a new stake in Quanta Services in the 1st quarter valued at $234,000. Finally, PFG Advisors grew its position in Quanta Services by 14.1% in the 1st quarter. PFG Advisors now owns 6,394 shares of the construction company's stock worth $1,661,000 after purchasing an additional 790 shares during the last quarter. Institutional investors own 90.49% of the company's stock.

Insider Activity

In other news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on 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 completion of the sale, the insider now owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Quanta Services 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 value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the transaction, the chief executive officer now owns 593,402 shares of the company's stock, valued at $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Robert W. Baird increased their target price on shares of Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Stifel Nicolaus raised their price objective on 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 boosted their price objective on Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Northland Securities reiterated an "outperform" rating and set a $328.00 price target (up previously from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Finally, Jefferies Financial Group assumed coverage on shares of Quanta Services in a research note 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 issued a buy rating to the company. Based on data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and an average target price of $314.27.

Quanta Services Price Performance

PWR traded up $10.11 during trading on Friday, hitting $330.97. The company's stock had a trading volume of 1,305,545 shares, compared to its average volume of 897,298. The firm's 50 day moving average price is $293.81 and its two-hundred day moving average price is $274.54. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $48.85 billion, a price-to-earnings ratio of 60.80 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $168.10 and a 12 month high of $333.24.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results 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. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the prior year, the company earned $2.08 EPS. The firm's quarterly revenue was up 15.5% on a year-over-year basis. Sell-side analysts forecast that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.09 dividend. 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 payout ratio is 6.64%.

About Quanta Services

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.