Perpetual Ltd Buys Shares of 761 Quanta Services, Inc. (NYSE:PWR)

Perpetual Ltd bought a new stake in Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 761 shares of the construction company’s stock, valued at approximately $227,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in shares of Quanta Services during the 1st quarter worth about $25,000. Private Ocean LLC bought a new stake in shares of Quanta Services during the 1st quarter worth about $26,000. Salomon & Ludwin LLC bought a new stake in shares of Quanta Services during the 1st quarter worth about $26,000. Cambridge Trust Co. bought a new stake in shares of Quanta Services during the 1st quarter worth about $26,000. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Quanta Services during the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PWR shares. Truist Financial increased their target price on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday. B. Riley increased their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. 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 for the company. JPMorgan Chase & Co. started coverage on Quanta Services in a research note on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. Finally, Northland Securities increased their target price on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $299.93.

Quanta Services Trading Up 0.8 %

Shares of PWR opened at $309.42 on Friday. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $312.52. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $275.77 and a 200-day simple moving average of $267.31. The stock has a market cap of $45.30 billion, a PE ratio of 59.97 and a beta of 1.01.

Quanta Services (NYSE:PWR) last issued its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm posted $1.47 EPS. Quanta Services’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.81 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared 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 was Tuesday, October 1st. This represents a $0.36 dividend on an annualized basis and a yield of 0.12%. Quanta Services’s dividend payout ratio is 6.98%.

Insider Activity at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was 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 $2,875,791.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the insider now directly owns 21,286 shares in the company, valued at approximately $5,490,297.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock valued at $53,115,572 in the last three months. 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.