Old North State Trust LLC increased its holdings in shares of Quanta Services, Inc. (NYSE:PWR – Free Report) by 45.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 523 shares of the construction company’s stock after purchasing an additional 164 shares during the quarter. Old North State Trust LLC’s holdings in Quanta Services were worth $87,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of PWR. Toroso Investments LLC boosted its holdings in shares of Quanta Services by 16.7% during the 1st quarter. Toroso Investments LLC now owns 5,737 shares of the construction company’s stock valued at $956,000 after acquiring an additional 821 shares during the last quarter. Putnam Investments LLC grew its position in Quanta Services by 0.4% in the 1st quarter. Putnam Investments LLC now owns 50,295 shares of the construction company’s stock worth $8,381,000 after purchasing an additional 220 shares during the period. Centaurus Financial Inc. raised its stake in Quanta Services by 16.5% during the 1st quarter. Centaurus Financial Inc. now owns 2,645 shares of the construction company’s stock valued at $441,000 after buying an additional 374 shares during the last quarter. Advisory Services Network LLC lifted its holdings in shares of Quanta Services by 1.5% during the 1st quarter. Advisory Services Network LLC now owns 30,712 shares of the construction company’s stock valued at $5,118,000 after buying an additional 461 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Quanta Services by 26.0% in the 1st quarter. Rockefeller Capital Management L.P. now owns 15,271 shares of the construction company’s stock worth $2,543,000 after buying an additional 3,154 shares during the last quarter. 87.86% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. StockNews.com assumed coverage on Quanta Services in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Argus raised their price objective on shares of Quanta Services from $234.00 to $248.00 and gave the stock a “buy” rating in a report on Wednesday, September 6th. UBS Group upped their target price on shares of Quanta Services from $195.00 to $228.00 in a report on Monday, July 10th. Northland Securities increased their price target on shares of Quanta Services from $190.00 to $210.00 in a research report on Friday, August 4th. Finally, Credit Suisse Group boosted their price objective on shares of Quanta Services from $201.00 to $238.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Quanta Services has a consensus rating of “Moderate Buy” and an average target price of $205.27.
Quanta Services Trading Down 1.8 %
Shares of PWR stock opened at $199.24 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.64 and a current ratio of 1.68. The stock has a fifty day simple moving average of $203.35 and a two-hundred day simple moving average of $183.06. The firm has a market capitalization of $28.93 billion, a PE ratio of 50.83 and a beta of 1.08. Quanta Services, Inc. has a 52-week low of $123.25 and a 52-week high of $212.82.
Quanta Services (NYSE:PWR – Get Free Report) last released its earnings results on Thursday, August 3rd. The construction company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.06). Quanta Services had a return on equity of 15.48% and a net margin of 3.16%. The business had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $4.69 billion. On average, analysts predict that Quanta Services, Inc. will post 6.47 EPS for the current fiscal year.
Quanta Services Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, September 29th. This represents a $0.32 annualized dividend and a yield of 0.16%. Quanta Services’s payout ratio is 8.16%.
Insider Buying and Selling at Quanta Services
In other Quanta Services news, EVP Donald Wayne sold 5,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $210.92, for a total transaction of $1,054,600.00. Following the completion of the transaction, the executive vice president now owns 41,323 shares of the company’s stock, valued at approximately $8,715,847.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by insiders.
About Quanta Services
Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries worldwide. 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.
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