Assetmark Inc. Acquires 392 Shares of Quanta Services, Inc. (NYSE:PWR)

Assetmark Inc. boosted its holdings in Quanta Services, Inc. (NYSE:PWR) by 7.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,781 shares of the construction company’s stock after acquiring an additional 392 shares during the quarter. Assetmark Inc.’s holdings in Quanta Services were worth $1,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Quanta Services by 0.6% in 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 raised its position in shares of Quanta Services by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after buying an additional 1,981 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Quanta Services by 115.0% during the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after acquiring an additional 21,003 shares during the last quarter. Czech National Bank grew its position in Quanta Services by 8.9% in the second quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after acquiring an additional 2,264 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Quanta Services by 892.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,012 shares of the construction company’s stock valued at $262,000 after acquiring an additional 910 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $323.87 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $300.29 and a 200-day moving average price of $277.12. The company has a market cap of $47.81 billion, a price-to-earnings ratio of 59.75 and a beta of 1.01. Quanta Services, Inc. has a 12 month low of $180.97 and a 12 month high of $335.00.

Quanta Services (NYSE:PWR) last released its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. The business had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. Quanta Services’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 EPS. As a group, equities analysts anticipate that Quanta Services, Inc. will post 7.88 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently declared 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 6.64%.

Insider Buying and Selling at Quanta Services

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction that occurred 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 sale, the insider now directly owns 10,631 shares of the company’s stock, valued at approximately $2,875,791.81. The trade was a 68.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wolfe Research initiated coverage on Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. TD Cowen boosted 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. Stifel Nicolaus increased their price target on shares of Quanta Services from $283.00 to $342.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group began coverage on shares of Quanta Services in a report on Wednesday, September 4th. They set a “hold” rating and a $256.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $314.27.

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.