Avitas Wealth Management LLC Has $6.28 Million Stock Holdings in Quanta Services, Inc. (NYSE:PWR)

Avitas Wealth Management LLC reduced its position in shares of Quanta Services, Inc. (NYSE:PWR) by 0.7% during the third quarter, Holdings Channel reports. The institutional investor owned 21,063 shares of the construction company’s stock after selling 151 shares during the period. Quanta Services comprises about 0.9% of Avitas Wealth Management LLC’s portfolio, making the stock its 26th largest holding. Avitas Wealth Management LLC’s holdings in Quanta Services were worth $6,280,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Diversified Trust Co acquired a new position in Quanta Services during the first quarter worth $328,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Quanta Services by 57.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 252,249 shares of the construction company’s stock worth $65,534,000 after acquiring an additional 92,082 shares during the last quarter. State of Michigan Retirement System lifted its position in Quanta Services by 0.3% in the 1st quarter. State of Michigan Retirement System now owns 39,848 shares of the construction company’s stock valued at $10,353,000 after acquiring an additional 100 shares in the last quarter. Kovack Advisors Inc. increased its holdings in Quanta Services by 2.9% during the 1st quarter. Kovack Advisors Inc. now owns 7,905 shares of the construction company’s stock worth $2,054,000 after purchasing an additional 226 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its holdings in shares of Quanta Services by 31.5% in the first quarter. First Trust Direct Indexing L.P. now owns 3,114 shares of the construction company’s stock valued at $809,000 after purchasing an additional 746 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Activity

In related 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of Quanta Services stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the company’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 sale, 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 disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 0.0 %

NYSE:PWR opened at $313.43 on Wednesday. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $317.91. The stock’s fifty day moving average price is $288.27 and its two-hundred day moving average price is $271.82. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The company has a market cap of $46.18 billion, a P/E ratio of 59.14 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the company earned $1.47 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. As a group, analysts expect that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s payout ratio is 6.79%.

Analyst Ratings Changes

Several brokerages have weighed in on PWR. Citigroup raised their price objective on Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Northland Securities upped their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Truist Financial boosted their target price on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird increased their price target on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, UBS Group upped their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $308.07.

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.