Private Advisory Group LLC Increases Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Private Advisory Group LLC raised its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,497 shares of the construction company’s stock after purchasing an additional 160 shares during the quarter. Private Advisory Group LLC’s holdings in Quanta Services were worth $1,043,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. EntryPoint Capital LLC bought a new position in shares of Quanta Services during the first quarter valued at approximately $25,000. Private Ocean LLC purchased a new stake in shares of Quanta Services in the first quarter worth $26,000. Salomon & Ludwin LLC purchased a new position in shares of Quanta Services in the 1st quarter worth about $26,000. Cambridge Trust Co. bought a new position in Quanta Services in the 1st quarter worth about $26,000. Finally, Valley Wealth Managers Inc. purchased a new stake in Quanta Services during the 2nd quarter valued at about $33,000. 90.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 10,631 shares in the company, 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 can be accessed through the SEC website. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This trade represents 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 Quanta Services stock in a transaction on 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 sale, the insider now owns 10,631 shares of the company’s stock, valued at approximately $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 worth $53,115,572 in the last quarter. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday. Jefferies Financial Group began coverage on Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. Robert W. Baird lifted their price objective on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research note on Monday. They set a “neutral” rating and a $297.00 target price on the stock. Finally, Citigroup boosted their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $299.93.

Quanta Services Stock Performance

NYSE PWR opened at $306.99 on Friday. The business has a 50-day moving average price of $274.40 and a 200-day moving average price of $266.88. The firm has a market cap of $45.23 billion, a price-to-earnings ratio of 57.92 and a beta of 1.01. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $312.52. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45.

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, topping analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. Quanta Services’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.47 earnings per share. As a group, equities research analysts predict that Quanta Services, Inc. will post 7.81 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date is Tuesday, October 1st. Quanta Services’s payout ratio is presently 6.79%.

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.