Wellington Management Group LLP Buys 6,456 Shares of Quanta Services, Inc. (NYSE:PWR)

Wellington Management Group LLP lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 60.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,174 shares of the construction company’s stock after acquiring an additional 6,456 shares during the quarter. Wellington Management Group LLP’s holdings in Quanta Services were worth $3,213,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PWR. ICA Group Wealth Management LLC bought a new position in Quanta Services in the 4th quarter worth approximately $26,000. Coppell Advisory Solutions Corp. bought a new position in Quanta Services in the 4th quarter worth approximately $28,000. Perkins Coie Trust Co bought a new position in Quanta Services in the 3rd quarter worth approximately $30,000. Grove Bank & Trust boosted its stake in Quanta Services by 75.6% in the 3rd quarter. Grove Bank & Trust now owns 158 shares of the construction company’s stock worth $30,000 after purchasing an additional 68 shares during the period. Finally, VisionPoint Advisory Group LLC bought a new position in Quanta Services in the 2nd quarter worth approximately $33,000. 90.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Quanta Services news, EVP Donald Wayne sold 1,101 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $261.94, for a total value of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares in the company, valued at $10,494,626.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Derrick A. Jensen sold 18,500 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $236.90, for a total value of $4,382,650.00. Following the transaction, the executive vice president now directly owns 263,725 shares in the company, valued at approximately $62,476,452.50. The disclosure for this sale can be found here. Insiders have sold a total of 47,125 shares of company stock worth $11,270,215 over the last quarter. Company insiders own 1.30% of the company’s stock.

Quanta Services Stock Performance

NYSE:PWR opened at $259.75 on Thursday. The stock’s fifty day moving average is $224.33 and its 200 day moving average is $201.52. Quanta Services, Inc. has a fifty-two week low of $153.74 and a fifty-two week high of $262.01. The firm has a market capitalization of $37.86 billion, a PE ratio of 51.85 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.21. Quanta Services had a return on equity of 16.46% and a net margin of 3.57%. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the prior year, the firm posted $1.54 EPS. Quanta Services’s quarterly revenue was up 31.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Quanta Services, Inc. will post 7.63 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on PWR shares. Stifel Nicolaus upped their price target on Quanta Services from $237.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. DA Davidson increased their target price on Quanta Services from $190.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Evercore ISI began coverage on Quanta Services in a research report on Tuesday, February 13th. They set an “outperform” rating and a $237.00 target price for the company. KeyCorp began coverage on Quanta Services in a research report on Wednesday, January 10th. They set a “sector weight” rating for the company. Finally, The Goldman Sachs Group increased their target price on Quanta Services from $227.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus price target of $239.54.

About Quanta Services

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.