Harbour Investments Inc. raised its holdings in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 3.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,215 shares of the construction company’s stock after purchasing an additional 150 shares during the quarter. Harbour Investments Inc.’s holdings in Quanta Services were worth $1,257,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Quanta Services by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after acquiring an additional 105,355 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Quanta Services by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after buying an additional 1,981 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Quanta Services by 115.0% in the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock valued at $10,203,000 after buying an additional 21,003 shares in the last quarter. Czech National Bank increased its position in shares of Quanta Services by 8.9% in the 2nd quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock valued at $7,071,000 after buying an additional 2,264 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Quanta Services by 892.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock worth $262,000 after purchasing an additional 910 shares during the period. Institutional investors own 90.49% of the company’s stock.
Analysts Set New Price Targets
PWR has been the subject of a number of research analyst reports. Citigroup upped their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. initiated coverage on shares of Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Northland Securities reaffirmed an “outperform” rating and issued a $328.00 target price (up from $280.00) on shares of Quanta Services in a research note on Friday, November 1st. Wolfe Research started coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price for the company. Finally, Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and an average target price of $314.27.
Quanta Services Stock Performance
Shares of NYSE:PWR opened at $323.87 on Friday. The company’s 50 day simple moving average is $300.29 and its 200 day simple moving average is $277.12. The stock has a market capitalization of $47.81 billion, a price-to-earnings ratio of 59.75 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19. Quanta Services, Inc. has a 1 year low of $180.97 and a 1 year high of $335.00.
Quanta Services (NYSE:PWR – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the firm posted $2.08 earnings per share. As a group, research analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.
Quanta Services Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. Quanta Services’s dividend payout ratio is currently 6.64%.
Insider Buying and Selling at Quanta Services
In other news, insider Karl W. Studer sold 23,357 shares of Quanta Services 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 transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. The trade was a 68.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.
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.
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