Tectonic Advisors LLC Has $1.03 Million Stock Position in Quanta Services, Inc. (NYSE:PWR)

Tectonic Advisors LLC lowered its holdings in Quanta Services, Inc. (NYSE:PWR) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,465 shares of the construction company’s stock after selling 368 shares during the period. Tectonic Advisors LLC’s holdings in Quanta Services were worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. EntryPoint Capital LLC acquired a new stake in shares of Quanta Services in the first quarter valued at approximately $25,000. Private Ocean LLC bought a new position in Quanta Services during the first quarter worth $26,000. Salomon & Ludwin LLC acquired a new stake in Quanta Services in the first quarter valued at approximately $26,000. Cambridge Trust Co. acquired a new stake in shares of Quanta Services in the 1st quarter worth about $26,000. Finally, Valley Wealth Managers Inc. purchased a new position in Quanta Services during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the 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 transaction, the insider now directly owns 10,631 shares in the company, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 stock was sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the sale, the insider now owns 21,286 shares of the company’s stock, valued at $5,490,297.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $6,318,302.07. Following the transaction, the insider now owns 10,631 shares in the company, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,357 shares of company stock valued at $53,115,572. Corporate insiders own 1.10% of the company’s stock.

Quanta Services Price Performance

PWR stock opened at $308.17 on Friday. Quanta Services, Inc. has a 12-month low of $153.74 and a 12-month high of $317.91. The company has a market cap of $45.40 billion, a price-to-earnings ratio of 58.15 and a beta of 1.01. The firm has a 50 day moving average of $286.43 and a 200-day moving average of $270.80. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45.

Quanta Services (NYSE:PWR) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.47 EPS. As a group, equities analysts expect that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.12%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is 6.79%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PWR. UBS Group increased 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. JPMorgan Chase & Co. began coverage on Quanta Services in a research note on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Jefferies Financial Group started coverage on Quanta Services in a research note on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. Truist Financial raised their price objective on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Citigroup increased their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and an average price target of $308.07.

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.