PDS Planning Inc Buys Shares of 745 Quanta Services, Inc. (NYSE:PWR)

PDS Planning Inc purchased a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the third quarter, HoldingsChannel reports. The fund purchased 745 shares of the construction company’s stock, valued at approximately $222,000.

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

Quanta Services Trading Up 3.4 %

NYSE:PWR opened at $314.62 on Wednesday. The stock has a market cap of $46.44 billion, a price-to-earnings ratio of 58.05 and a beta of 1.01. Quanta Services, Inc. has a one year low of $163.93 and a one year high of $317.91. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The business’s 50-day simple moving average is $291.95 and its 200 day simple moving average is $273.96.

Quanta Services (NYSE:PWR) last announced its earnings results 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 company had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 EPS. As a group, sell-side analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.09 per share. 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 dividend payout ratio is currently 6.64%.

Insider Transactions at Quanta Services

In other news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the transaction, the insider now directly owns 21,286 shares in the company, valued at $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the business’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 sale, the insider now owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The trade was 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. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PWR shares. Stifel Nicolaus boosted their target price on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Wolfe Research initiated coverage on Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 price target for the company. Citigroup upped their price target on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Finally, Truist Financial raised their price objective on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services 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.