Farther Finance Advisors LLC Acquires 124 Shares of Quanta Services, Inc. (NYSE:PWR)

Farther Finance Advisors LLC increased its holdings in Quanta Services, Inc. (NYSE:PWR) by 12.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,088 shares of the construction company’s stock after acquiring an additional 124 shares during the quarter. Farther Finance Advisors LLC’s holdings in Quanta Services were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of PWR. EntryPoint Capital LLC bought a new position in shares of Quanta Services during the first quarter valued at $25,000. Cambridge Trust Co. purchased a new position in Quanta Services in the first quarter worth about $26,000. Valley Wealth Managers Inc. bought a new position in shares of Quanta Services in the second quarter worth approximately $33,000. Quest Partners LLC purchased a new stake in shares of Quanta Services during the second quarter valued at approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Quanta Services during the second quarter valued at approximately $38,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction 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 completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Quanta Services news, 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 completion of 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 document filed with the SEC, which is available through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 directly owns 593,402 shares of the company’s stock, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PWR shares. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. Jefferies Financial Group began coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 price objective on the stock. Citigroup boosted their target price on Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Truist Financial lifted their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Northland Securities restated 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. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $314.27.

Quanta Services Trading Up 3.2 %

NYSE:PWR opened at $330.97 on Friday. Quanta Services, Inc. has a one year low of $168.10 and a one year high of $333.24. The business has a fifty day moving average price of $294.93 and a 200-day moving average price of $275.13. The firm has a market capitalization of $48.85 billion, a price-to-earnings ratio of 61.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.23 and a quick ratio of 1.19.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate 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 return on equity of 16.71% and a net margin of 3.54%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 earnings per share. Sell-side analysts forecast that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Dividend Announcement

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

About Quanta Services

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.