Bleakley Financial Group LLC Buys 66 Shares of Quanta Services, Inc. (NYSE:PWR)

Bleakley Financial Group LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,946 shares of the construction company’s stock after acquiring an additional 66 shares during the quarter. Bleakley Financial Group LLC’s holdings in Quanta Services were worth $2,071,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PWR. EntryPoint Capital LLC bought a new position in shares of Quanta Services in the 1st quarter valued at about $25,000. Private Ocean LLC bought a new position in shares of Quanta Services in the 1st quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in shares of Quanta Services in the 1st quarter valued at about $26,000. Cambridge Trust Co. bought a new position in shares of Quanta Services in the 1st quarter valued at about $26,000. Finally, Valley Wealth Managers Inc. bought a new position in shares of Quanta Services in the 2nd quarter valued at about $33,000. Institutional investors own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In other news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated 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 directly owns 21,286 shares in the company, valued at $5,490,297.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Gerald A. Ducey, Jr. sold 15,000 shares of the firm’s 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 sale, 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 document filed with the SEC, which is accessible through the SEC website. Also, insider Karl W. Studer sold 23,357 shares of the firm’s 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 owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,357 shares of company stock worth $53,115,572 in the last three months. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

PWR has been the topic of several recent research reports. Citigroup raised their target price on shares of Quanta Services from $302.00 to $348.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Stifel Nicolaus lifted their price target on shares of Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Robert W. Baird upped their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Northland Securities upped their price objective on shares of Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $303.86.

Quanta Services Price Performance

PWR stock opened at $314.27 on Friday. The stock has a 50-day moving average price of $281.72 and a two-hundred day moving average price of $269.14. The stock has a market cap of $46.01 billion, a PE ratio of 60.91 and a beta of 1.01. 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, Inc. has a 1 year low of $153.74 and a 1 year high of $316.28.

Quanta Services (NYSE:PWR) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The company had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same period in the prior year, the business posted $1.47 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts forecast that Quanta Services, Inc. will post 7.83 EPS for the current fiscal year.

Quanta Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date of this dividend 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 is 6.98%.

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.