CX Institutional Makes New Investment in Quanta Services, Inc. (NYSE:PWR)

CX Institutional acquired a new stake in Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 698 shares of the construction company’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fiduciary Alliance LLC grew its position in shares of Quanta Services by 17.1% during the 3rd quarter. Fiduciary Alliance LLC now owns 21,227 shares of the construction company’s stock worth $6,329,000 after buying an additional 3,097 shares during the period. ORG Partners LLC boosted its stake in Quanta Services by 129.1% during the third quarter. ORG Partners LLC now owns 804 shares of the construction company’s stock worth $240,000 after acquiring an additional 453 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in Quanta Services in the third quarter worth $95,000. Paladin Wealth LLC bought a new stake in Quanta Services in the third quarter valued at $565,000. Finally, Ameliora Wealth Management Ltd. raised its holdings in shares of Quanta Services by 2.8% during the third quarter. Ameliora Wealth Management Ltd. now owns 3,292 shares of the construction company’s stock valued at $982,000 after purchasing an additional 89 shares during the period. Institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of Quanta Services stock opened at $313.14 on Friday. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $316.28. The firm has a market capitalization of $45.84 billion, a P/E ratio of 60.69 and a beta of 1.01. The business’s fifty day simple moving average is $279.62 and its 200 day simple moving average is $268.35. 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 released its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.47 EPS. As a group, analysts anticipate that Quanta Services, Inc. will post 7.81 EPS for the current year.

Quanta Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is currently 6.98%.

Insider Activity at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The shares were 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 $5,490,297.98. This trade 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 available at the SEC website. In other news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 transaction, the insider now owns 21,286 shares of the company’s stock, valued at $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. In the last three months, insiders have sold 202,357 shares of company stock worth $53,115,572. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PWR. B. Riley boosted their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. TD Cowen increased their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird boosted their price target on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Jefferies Financial Group started coverage on shares of Quanta Services in a research note on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective on the stock. Finally, Northland Securities boosted their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Four equities research 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $303.86.

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.