Sheaff Brock Investment Advisors LLC Raises Position in Quanta Services, Inc. (NYSE:PWR)

Sheaff Brock Investment Advisors LLC lifted its holdings in shares of Quanta Services, Inc. (NYSE:PWR) by 5.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,148 shares of the construction company’s stock after acquiring an additional 110 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Quanta Services were worth $640,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PWR. Empowered Funds LLC boosted its holdings in shares of Quanta Services by 24.2% in the first 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. First Eagle Investment Management LLC increased its position in shares of Quanta Services by 337.8% during the 1st quarter. First Eagle Investment Management LLC now owns 2,233 shares of the construction company’s stock valued at $580,000 after purchasing an additional 1,723 shares during the last quarter. Blair William & Co. IL lifted its position in Quanta Services by 3.0% in the 1st quarter. Blair William & Co. IL now owns 23,091 shares of the construction company’s stock worth $5,999,000 after buying an additional 665 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Quanta Services by 0.8% in the 1st quarter. Orion Portfolio Solutions LLC now owns 13,564 shares of the construction company’s stock valued at $3,524,000 after purchasing an additional 113 shares in the last quarter. Finally, Twin Tree Management LP boosted its stake in shares of Quanta Services by 95.2% in the 1st quarter. Twin Tree Management LP now owns 7,148 shares of the construction company’s stock valued at $1,857,000 after purchasing an additional 3,487 shares in the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on PWR shares. Stifel Nicolaus increased their price target 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. Wolfe Research began coverage on shares of Quanta Services in a research report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price for the company. Robert W. Baird raised their target price on shares of Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Truist Financial raised their target price on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, B. Riley raised their target price on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $323.33 on Friday. The firm’s 50-day moving average price is $301.80 and its 200-day moving average price is $277.54. 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 company has a market cap of $47.73 billion, a PE ratio of 59.65 and a beta of 1.01. Quanta Services, Inc. has a 52-week low of $180.97 and a 52-week high of $335.00.

Quanta Services (NYSE:PWR) last announced its quarterly 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 firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. Quanta Services had a net margin of 3.54% and a return on equity of 16.71%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 EPS. As a group, analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Announces Dividend

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

Insider Buying and Selling

In related news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value 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 68.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

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.