Empirical Finance LLC Increases Holdings in Quanta Services, Inc. (NYSE:PWR)

Empirical Finance LLC increased its position in Quanta Services, Inc. (NYSE:PWR) by 2.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,926 shares of the construction company’s stock after acquiring an additional 100 shares during the quarter. Empirical Finance LLC’s holdings in Quanta Services were worth $1,469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PWR. EntryPoint Capital LLC bought a new stake in shares of Quanta Services during the 1st quarter valued at about $25,000. Cambridge Trust Co. purchased a new stake in Quanta Services during the first quarter valued at approximately $26,000. Valley Wealth Managers Inc. bought a new position in Quanta Services in the second quarter worth approximately $33,000. Quest Partners LLC purchased a new position in shares of Quanta Services during the 2nd quarter worth $35,000. Finally, Eastern Bank bought a new stake in shares of Quanta Services during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the company’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 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 represents a 68.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.10% of the stock is owned by company insiders.

Quanta Services Stock Down 0.2 %

PWR opened at $323.33 on Friday. Quanta Services, Inc. has a 52 week low of $180.97 and a 52 week high of $335.00. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm has a 50-day simple moving average of $301.80 and a two-hundred day simple moving average of $277.54. The company has a market capitalization of $47.73 billion, a PE ratio of 59.65 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 EPS. Analysts forecast that Quanta Services, Inc. will post 7.88 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently declared 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. 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 payout ratio is 6.64%.

Analyst Ratings Changes

Several equities analysts recently weighed in on PWR shares. B. Riley lifted their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Robert W. Baird lifted their price objective on Quanta Services from $320.00 to $333.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. TD Cowen increased their target price on shares of Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Jefferies Financial Group began coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target on the stock. Finally, Wolfe Research assumed coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $314.27.

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.