Mather Group LLC. Boosts Position in Quanta Services, Inc. (NYSE:PWR)

Mather Group LLC. lifted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 31.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 916 shares of the construction company’s stock after acquiring an additional 221 shares during the period. Mather Group LLC.’s holdings in Quanta Services were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PWR. EntryPoint Capital LLC purchased a new stake in Quanta Services in the 1st quarter valued at about $25,000. Private Ocean LLC purchased a new stake in Quanta Services in the 1st quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new stake in Quanta Services in the 1st quarter valued at about $26,000. Cambridge Trust Co. purchased a new stake in Quanta Services in the 1st quarter valued at about $26,000. Finally, Valley Wealth Managers Inc. acquired a new position in Quanta Services in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Price Performance

Quanta Services stock opened at $309.42 on Friday. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $312.52. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The business has a 50 day simple moving average of $275.77 and a 200-day simple moving average of $267.25. The stock has a market capitalization of $45.30 billion, a PE ratio of 59.97 and a beta of 1.01.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.51 billion. During the same quarter in the prior year, the business earned $1.47 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts predict that Quanta Services, Inc. will post 7.81 earnings per share for the current year.

Quanta Services Announces Dividend

The firm 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 payout ratio is 6.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PWR shares. Stifel Nicolaus lifted their target price on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday. TD Cowen lifted their target price on Quanta Services from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Truist Financial lifted their target price on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. started coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 target price for the company. Finally, Northland Securities lifted their target price on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $299.93.

Insiders Place Their Bets

In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction 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 owns 21,286 shares in the company, valued at approximately $5,490,297.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Quanta Services news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the company’s stock in a transaction 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 sale, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. This 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 accessible through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $260.03, for a total value of $8,841,020.00. Following the completion of the sale, the chief operating officer now directly owns 29,002 shares in the company, valued at $7,541,390.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,357 shares of company stock worth $53,115,572. 1.10% of the stock is owned by corporate insiders.

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.