Carr Financial Group Corp Sells 164 Shares of Quanta Services, Inc. (NYSE:PWR)

Carr Financial Group Corp trimmed its position in Quanta Services, Inc. (NYSE:PWR) by 13.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,101 shares of the construction company’s stock after selling 164 shares during the quarter. Carr Financial Group Corp’s holdings in Quanta Services were worth $328,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC boosted its stake in shares of Quanta Services by 24.2% during the 1st quarter. Empowered Funds LLC now owns 1,835 shares of the construction company’s stock worth $477,000 after acquiring an additional 357 shares during the period. Forsta AP Fonden raised its position in shares of Quanta Services by 9.9% in the first quarter. Forsta AP Fonden now owns 30,100 shares of the construction company’s stock valued at $7,820,000 after purchasing an additional 2,700 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Quanta Services during the 1st quarter worth about $4,725,000. Montag A & Associates Inc. boosted its holdings in shares of Quanta Services by 2,654.5% during the 1st quarter. Montag A & Associates Inc. now owns 303 shares of the construction company’s stock worth $79,000 after buying an additional 292 shares during the period. Finally, Concurrent Investment Advisors LLC grew its stake in Quanta Services by 12.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 1,803 shares of the construction company’s stock valued at $468,000 after buying an additional 202 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PWR shares. TD Cowen boosted their price objective on 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 initiated coverage on Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price target for the company. Northland Securities reiterated an “outperform” rating and set a $328.00 price objective (up previously from $280.00) on shares of Quanta Services in a research report on Friday, November 1st. 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 research report on Thursday, October 10th. Finally, Wolfe Research began coverage on shares of Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target on the stock. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Insider Transactions at Quanta Services

In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the transaction, the chief executive officer now owns 593,402 shares in the company, valued at $155,595,938.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services 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 owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Quanta Services Trading Up 3.2 %

Shares of PWR stock opened at $330.98 on Friday. Quanta Services, Inc. has a fifty-two week low of $168.10 and a fifty-two week high of $333.24. The stock’s fifty day moving average price is $294.93 and its two-hundred day moving average price is $275.30. 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 company has a market cap of $48.86 billion, a PE ratio of 61.07 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released 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. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The firm had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the business posted $2.08 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities analysts predict that Quanta Services, Inc. will post 7.88 EPS for the current fiscal year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.11%. Quanta Services’s payout ratio is presently 6.64%.

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.