Transform Wealth LLC Has $11.86 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Transform Wealth LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 48.2% during the third quarter, Holdings Channel reports. The institutional investor owned 39,785 shares of the construction company’s stock after buying an additional 12,946 shares during the period. Quanta Services comprises approximately 0.8% of Transform Wealth LLC’s investment portfolio, making the stock its 28th biggest position. Transform Wealth LLC’s holdings in Quanta Services were worth $11,862,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nomura Holdings Inc. acquired a new position in Quanta Services in the 4th quarter valued at about $631,000. Wellington Management Group LLP increased its holdings in shares of Quanta Services by 581.3% during the fourth quarter. Wellington Management Group LLP now owns 117,014 shares of the construction company’s stock worth $25,252,000 after purchasing an additional 99,840 shares during the period. Allen Investment Management LLC increased its holdings in shares of Quanta Services by 1,418.0% during the first quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock worth $8,676,000 after purchasing an additional 31,196 shares during the period. Vanguard Group Inc. increased its holdings in shares of Quanta Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after purchasing an additional 105,355 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after purchasing an additional 1,981 shares during the period. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on PWR shares. B. Riley raised their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. 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 report on Tuesday. Citigroup raised their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Stifel Nicolaus lifted their price objective on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Wolfe Research started coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $303.86.

Quanta Services Price Performance

Quanta Services stock traded up $6.37 during mid-day trading on Wednesday, reaching $311.91. The company had a trading volume of 138,737 shares, compared to its average volume of 895,073. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $313.56. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The company has a market cap of $45.66 billion, a P/E ratio of 59.20 and a beta of 1.01. The business has a fifty day simple moving average of $277.20 and a 200 day simple moving average of $267.72.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter last year, the business posted $1.47 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, equities research analysts predict that Quanta Services, Inc. will post 7.81 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 issued 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 dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 6.98%.

Insider Transactions at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares in the company, valued at approximately $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction 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 transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,357 shares of company stock worth $53,115,572. Company 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.