Lebenthal Global Advisors LLC Has $2.32 Million Stake in Quanta Services, Inc. (NYSE:PWR)

Lebenthal Global Advisors LLC lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,795 shares of the construction company’s stock after acquiring an additional 504 shares during the quarter. Quanta Services makes up approximately 0.5% of Lebenthal Global Advisors LLC’s holdings, making the stock its 29th largest holding. Lebenthal Global Advisors LLC’s holdings in Quanta Services were worth $2,324,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Quanta Services by 0.6% in the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after acquiring an additional 105,355 shares during the last quarter. JPMorgan Chase & Co. raised its position in Quanta Services by 2.4% in the 1st quarter. JPMorgan Chase & Co. now owns 6,760,260 shares of the construction company’s stock worth $1,756,316,000 after purchasing an additional 156,627 shares during the last quarter. Capital World Investors boosted its position in Quanta Services by 10.7% in the 1st quarter. Capital World Investors now owns 6,643,733 shares of the construction company’s stock valued at $1,726,042,000 after buying an additional 643,011 shares during the last quarter. Electron Capital Partners LLC increased its stake in shares of Quanta Services by 395.1% in the 2nd quarter. Electron Capital Partners LLC now owns 2,622,142 shares of the construction company’s stock valued at $666,260,000 after buying an additional 2,092,519 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Quanta Services by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,235,655 shares of the construction company’s stock worth $313,968,000 after acquiring an additional 186,306 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on PWR shares. Northland Securities raised their price target on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price target for the company. UBS Group increased their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wolfe Research started coverage on shares of Quanta Services in a report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price for the company. Finally, TD Cowen increased their price target on Quanta Services from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Quanta Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $311.07.

Quanta Services Stock Up 2.0 %

NYSE PWR traded up $6.08 during trading hours on Friday, reaching $307.71. 63,211 shares of the company’s stock were exchanged, compared to its average volume of 883,885. 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 $163.93 and a one year high of $317.91. The company’s 50-day moving average is $289.12 and its two-hundred day moving average is $272.10. The company has a market capitalization of $45.33 billion, a price-to-earnings ratio of 56.91 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The firm’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the business posted $2.08 earnings per share. On average, analysts forecast that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued 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 0.12%. Quanta Services’s payout ratio is presently 6.79%.

Insider Buying and Selling at Quanta Services

In other 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 transaction of $6,318,302.07. Following the completion of the transaction, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $270.51, for a total value 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,357 shares of company stock worth $53,115,572. Corporate 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.