Wealth Enhancement Advisory Services LLC Raises Holdings in Quanta Services, Inc. (NYSE:PWR)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Quanta Services, Inc. (NYSE:PWR) by 40.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,845 shares of the construction company’s stock after buying an additional 14,983 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Quanta Services were worth $15,458,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PWR. Diversified Trust Co bought a new stake in shares of Quanta Services in the 1st quarter valued at about $328,000. Park Place Capital Corp boosted its stake in Quanta Services by 927.0% in the first quarter. Park Place Capital Corp now owns 914 shares of the construction company’s stock valued at $237,000 after acquiring an additional 825 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Quanta Services by 57.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 252,249 shares of the construction company’s stock worth $65,534,000 after purchasing an additional 92,082 shares during the last quarter. State of Michigan Retirement System increased its position in shares of Quanta Services by 0.3% during the first quarter. State of Michigan Retirement System now owns 39,848 shares of the construction company’s stock worth $10,353,000 after purchasing an additional 100 shares in the last quarter. Finally, Tower Wealth Partners Inc. lifted its holdings in shares of Quanta Services by 6.3% during the 1st quarter. Tower Wealth Partners Inc. now owns 1,040 shares of the construction company’s stock valued at $270,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Insider Transactions at Quanta Services

In related news, insider Karl W. Studer sold 23,357 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Karl W. Studer sold 23,357 shares of Quanta Services stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Earl C. Jr. Austin sold 130,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was 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 owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This represents 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 valued at $53,115,572 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Quanta Services Stock Up 1.7 %

Shares of PWR opened at $313.36 on Tuesday. The stock’s 50-day moving average price is $287.34 and its 200-day moving average price is $271.41. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $46.17 billion, a price-to-earnings ratio of 59.12 and a beta of 1.01. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $317.91.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $1.90 EPS for the quarter, topping the consensus estimate 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 return on equity of 16.29% and a net margin of 3.59%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 EPS. On average, sell-side analysts predict that Quanta Services, Inc. will post 7.82 EPS for the current year.

Quanta Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were given a $0.09 dividend. The ex-dividend date 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 (DPR) is currently 6.79%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PWR. Truist Financial boosted their target price on Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. UBS Group upped their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Northland Securities lifted their target price on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Citigroup upped their price target 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. Finally, Robert W. Baird lifted their price objective on shares of Quanta Services from $287.00 to $288.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $308.07.

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.