Quanta Services, Inc. (NYSE:PWR) Shares Bought by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. grew its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 12.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,490 shares of the construction company’s stock after purchasing an additional 160 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Quanta Services were worth $444,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Terra Nova Asset Management LLC increased its position in Quanta Services by 0.3% during the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock worth $3,810,000 after purchasing an additional 38 shares during the period. Greenleaf Trust boosted its stake in shares of Quanta Services by 1.2% during the 3rd quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock worth $940,000 after acquiring an additional 38 shares in the last quarter. EP Wealth Advisors LLC boosted its stake in shares of Quanta Services by 0.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock worth $1,777,000 after acquiring an additional 39 shares in the last quarter. Whittier Trust Co. boosted its stake in shares of Quanta Services by 0.7% during the 3rd quarter. Whittier Trust Co. now owns 5,894 shares of the construction company’s stock worth $1,757,000 after acquiring an additional 39 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake in shares of Quanta Services by 20.5% during the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock worth $61,000 after acquiring an additional 41 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Truist Financial boosted their price target on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. B. Riley boosted their price target on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. UBS Group boosted their price target on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. assumed coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $308.07.

Quanta Services Stock Down 1.0 %

Shares of PWR stock traded down $3.00 during trading hours on Tuesday, hitting $310.36. 41,664 shares of the company were exchanged, compared to its average volume of 882,476. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $317.91. The business’s 50-day simple moving average is $287.34 and its two-hundred day simple moving average is $271.41. The stock has a market capitalization of $45.73 billion, a price-to-earnings ratio of 59.12 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its quarterly 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 net margin of 3.59% and a return on equity of 16.29%. The business had revenue of $5.59 billion for the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter last year, the company posted $1.47 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Sell-side analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.79%.

Insider Buying and Selling

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Quanta Services 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 completion of the sale, the insider now 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now owns 21,286 shares in the company, valued at $5,490,297.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,357 shares of company stock valued at $53,115,572. Company insiders own 1.10% of the company’s stock.

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.