2,514 Shares in Quanta Services, Inc. (NYSE:PWR) Acquired by Kennedy Investment Group

Kennedy Investment Group purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,514 shares of the construction company’s stock, valued at approximately $750,000.

A number of other large investors also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in shares of Quanta Services during the first quarter worth $25,000. Private Ocean LLC purchased a new position in shares of Quanta Services in the 1st quarter valued at about $26,000. Salomon & Ludwin LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth about $26,000. Cambridge Trust Co. purchased a new stake in Quanta Services during the first quarter worth approximately $26,000. Finally, Valley Wealth Managers Inc. acquired a new position in Quanta Services in the second quarter valued at approximately $33,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Quanta Services Stock Performance

Shares of PWR stock traded up $2.87 during mid-day trading on Monday, hitting $317.14. The stock had a trading volume of 230,002 shares, compared to its average volume of 890,006. The firm has a market cap of $46.43 billion, a PE ratio of 60.91 and a beta of 1.01. The company’s 50-day simple moving average is $281.72 and its 200-day simple moving average is $269.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $317.68.

Quanta Services (NYSE:PWR) last announced its quarterly earnings data 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. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.47 EPS. Sell-side analysts anticipate that Quanta Services, Inc. will post 7.83 earnings per share for the current year.

Quanta Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio is currently 6.98%.

Insider Activity

In related news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, 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 transaction of $6,318,302.07. Following the completion of the transaction, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO James Redgie Probst sold 34,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $260.03, for a total transaction of $8,841,020.00. Following the completion of the sale, the chief operating officer now owns 29,002 shares in the company, valued at $7,541,390.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on PWR shares. Robert W. Baird raised their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Wolfe Research started coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. B. Riley upped their price objective on shares of Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group began coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. Finally, TD Cowen boosted their target price on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $303.86.

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.