Mirae Asset Global Investments Co. Ltd. Purchases 957 Shares of Quanta Services, Inc. (NYSE:PWR)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 4.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,469 shares of the construction company’s stock after purchasing an additional 957 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Quanta Services were worth $6,371,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Terra Nova Asset Management LLC increased its holdings in shares of Quanta Services by 0.3% in the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock worth $3,810,000 after buying an additional 38 shares during the last quarter. Greenleaf Trust increased its stake in Quanta Services by 1.2% during the third quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock worth $940,000 after acquiring an additional 38 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Quanta Services by 0.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock valued at $1,777,000 after purchasing an additional 39 shares during the last quarter. Whittier Trust Co. lifted its stake in shares of Quanta Services by 0.7% in the 3rd quarter. Whittier Trust Co. now owns 5,894 shares of the construction company’s stock valued at $1,757,000 after purchasing an additional 39 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in shares of Quanta Services by 20.5% in the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock worth $61,000 after purchasing an additional 41 shares during the period. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Trading Up 1.7 %

NYSE PWR opened at $313.36 on Tuesday. The company’s 50-day simple moving average is $287.34 and its two-hundred day simple moving average is $271.41. Quanta Services, Inc. has a one year low of $153.74 and a one year high of $317.91. The company has a market capitalization of $46.17 billion, a price-to-earnings ratio of 59.12 and a beta of 1.01. 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 (NYSE:PWR) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 3.59% and a return on equity of 16.29%. Quanta Services’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. Equities analysts forecast that Quanta Services, Inc. will post 7.82 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s payout ratio is currently 6.79%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PWR shares. B. Riley raised their price target on Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. UBS Group lifted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup increased their price objective on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Wolfe Research started coverage on Quanta Services in a research report on Thursday, September 19th. They set an “outperform” rating and a $313.00 target price for the company. Finally, Robert W. Baird raised their price target on Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $308.07.

Insider Buying and Selling at Quanta Services

In other Quanta Services 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 completion of the sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of the business’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 owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $257.93, for a total transaction of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,357 shares of company stock worth $53,115,572 over the last quarter. Insiders own 1.10% of the company’s stock.

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.