Janney Montgomery Scott LLC Boosts Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Janney Montgomery Scott LLC boosted its stake in Quanta Services, Inc. (NYSE:PWR) by 12.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,886 shares of the construction company’s stock after purchasing an additional 16,520 shares during the quarter. Janney Montgomery Scott LLC owned about 0.10% of Quanta Services worth $44,987,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Electron Capital Partners LLC grew its holdings in shares of Quanta Services by 395.1% in the second quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after purchasing an additional 2,092,519 shares in the last quarter. Swedbank AB purchased a new position in shares of Quanta Services in the 1st quarter worth $227,218,000. Capital World Investors raised its position in shares of Quanta Services by 10.7% during the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after buying an additional 643,011 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Quanta Services by 1,445.3% in the 2nd quarter. American Century Companies Inc. now owns 395,152 shares of the construction company’s stock valued at $100,404,000 after acquiring an additional 369,581 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Quanta Services by 17.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after acquiring an additional 186,306 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of PWR stock opened at $303.50 on Monday. The company’s 50 day moving average is $290.40 and its 200 day moving average is $272.85. The company has a quick ratio of 1.25, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a market cap of $44.71 billion, a price-to-earnings ratio of 56.00 and a beta of 1.01. Quanta Services, Inc. has a 52-week low of $163.93 and a 52-week high of $317.91.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 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 during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the company posted $2.08 EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PWR. Jefferies Financial Group assumed coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 price objective for the company. Stifel Nicolaus increased their target price 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. Truist Financial upped their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup raised their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Insider Activity at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction 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 sale, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 sale, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 over the last 90 days. 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.