Quanta Services, Inc. (NYSE:PWR) Shares Sold by South Street Advisors LLC

South Street Advisors LLC reduced its holdings in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,770 shares of the construction company's stock after selling 2,196 shares during the period. Quanta Services comprises approximately 3.2% of South Street Advisors LLC's portfolio, making the stock its 11th biggest holding. South Street Advisors LLC's holdings in Quanta Services were worth $21,100,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PWR. Tower Wealth Partners Inc. grew its holdings in shares of Quanta Services by 3.1% in 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. Huntington National Bank lifted its position in Quanta Services by 2.9% during the third quarter. Huntington National Bank now owns 1,240 shares of the construction company's stock valued at $370,000 after buying an additional 35 shares during the period. Terra Nova Asset Management LLC lifted its position in 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 valued at $3,810,000 after buying an additional 38 shares during the period. Greenleaf Trust lifted 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 valued at $940,000 after buying an additional 38 shares during the period. Finally, EP Wealth Advisors LLC raised its position in shares of Quanta Services by 0.6% in the 2nd 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 last quarter. 90.49% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Karl W. Studer sold 23,357 shares of the company's 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 completion of the sale, the insider now directly owns 10,631 shares of the company's stock, valued at $2,875,791.81. This represents a 68.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company's stock.

Quanta Services Trading Down 0.2 %

Shares of Quanta Services stock traded down $0.54 during trading hours on Friday, hitting $323.33. The company's stock had a trading volume of 901,991 shares, compared to its average volume of 896,390. Quanta Services, Inc. has a twelve month low of $180.97 and a twelve month high of $335.00. The firm has a fifty day moving average of $301.80 and a 200-day moving average of $277.54. The stock has a market cap of $47.73 billion, a price-to-earnings ratio of 59.65 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

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 (EPS) for the quarter, topping 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 firm 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 earned $2.08 EPS. Quanta Services's revenue was up 15.5% on a year-over-year basis. Research analysts forecast that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a $0.09 dividend. 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 currently 6.64%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PWR. TD Cowen lifted their price target on Quanta Services from $280.00 to $335.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Citigroup boosted their price target on Quanta Services from $302.00 to $348.00 and gave the company a "buy" rating in a research note on Friday, October 4th. Truist Financial boosted their price target on Quanta Services from $319.00 to $358.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. B. Riley boosted their price objective on Quanta Services from $286.00 to $303.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Finally, Robert W. Baird boosted their price objective on Quanta Services from $320.00 to $333.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock 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.