149 Shares in Quanta Services, Inc. (NYSE:PWR) Bought by Eastern Bank

Eastern Bank purchased a new position in Quanta Services, Inc. (NYSE:PWR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 149 shares of the construction company’s stock, valued at approximately $44,000.

A number of other institutional investors also recently bought and sold shares of the stock. Allen Investment Management LLC lifted its position in shares of Quanta Services by 1,418.0% during the first quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock worth $8,676,000 after purchasing an additional 31,196 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Quanta Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock worth $4,245,452,000 after purchasing an additional 105,355 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Quanta Services by 5.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock worth $9,366,000 after purchasing an additional 1,981 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Quanta Services by 115.0% during the first quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after purchasing an additional 21,003 shares during the last quarter. Finally, Czech National Bank lifted its position in shares of Quanta Services by 8.9% during the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after purchasing an additional 2,264 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Price Performance

PWR opened at $308.17 on Friday. The business’s 50-day moving average is $286.43 and its two-hundred day moving average is $270.90. Quanta Services, Inc. has a 1 year low of $153.74 and a 1 year high of $317.91. 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 firm has a market capitalization of $45.40 billion, a PE ratio of 58.15 and a beta of 1.01.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.47 earnings per share. Research analysts anticipate that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio is presently 6.79%.

Insiders Place Their Bets

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James Redgie Probst sold 34,000 shares of Quanta Services stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $260.03, for a total value of $8,841,020.00. Following the sale, the chief operating officer now directly owns 29,002 shares of the company’s stock, 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 90 days, insiders sold 202,357 shares of company stock valued at $53,115,572. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PWR has been the subject of several research analyst reports. JPMorgan Chase & Co. initiated coverage on Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. Jefferies Financial Group started coverage on Quanta Services in a research report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price for the company. B. Riley raised their price target on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Truist Financial raised their price target on Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus raised their price target on Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $308.07.

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.