Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden boosted its position in Quanta Services, Inc. (NYSE:PWR) by 11.4% during the 3rd quarter, Holdings Channel reports. The fund owned 30,200 shares of the construction company’s stock after acquiring an additional 3,100 shares during the quarter. Forsta AP Fonden’s holdings in Quanta Services were worth $9,004,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new stake in shares of Quanta Services during the 1st quarter worth $25,000. Salomon & Ludwin LLC acquired a new stake in Quanta Services in the first quarter valued at $26,000. Cambridge Trust Co. purchased a new stake in Quanta Services during the 1st quarter worth about $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Quanta Services during the 2nd quarter worth about $33,000. Finally, Quest Partners LLC acquired a new stake in shares of Quanta Services during the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Insider Activity at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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 approximately $2,875,791.81. 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, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the transaction, the chief executive officer now directly owns 593,402 shares in the company, valued at approximately $155,595,938.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred on 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 sale, the insider now owns 10,631 shares of the company’s stock, valued at approximately $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 have sold a total of 202,357 shares of company stock worth $53,115,572 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PWR has been the subject of a number of research analyst reports. Wolfe Research started coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price target for the company. Jefferies Financial Group started coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price for the company. B. Riley lifted their price target on shares of Quanta Services from $286.00 to $303.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Truist Financial upped their price objective on shares of Quanta Services from $319.00 to $358.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, TD Cowen lifted their target price on Quanta Services from $280.00 to $335.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Quanta Services has an average rating of “Moderate Buy” and a consensus price target of $308.07.

Quanta Services Stock Performance

NYSE:PWR opened at $308.17 on Monday. The firm has a market cap of $45.11 billion, a price-to-earnings ratio of 59.72 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. Quanta Services, Inc. has a 1-year low of $153.74 and a 1-year high of $317.91. The firm’s fifty day moving average price is $286.43 and its 200 day moving average price is $271.02.

Quanta Services (NYSE:PWR) last issued its quarterly 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. The business had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.51 billion. Quanta Services had a net margin of 3.59% and a return on equity of 16.29%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.47 earnings per share. On average, sell-side analysts expect that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a $0.09 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. Quanta Services’s dividend payout ratio is currently 6.98%.

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.