State of Tennessee Treasury Department raised its holdings in shares of Quanta Services Inc (NYSE:PWR) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,947 shares of the construction company’s stock after purchasing an additional 5,509 shares during the period. State of Tennessee Treasury Department owned 0.07% of Quanta Services worth $4,005,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in PWR. ACG Wealth increased its stake in Quanta Services by 18.7% in the 3rd quarter. ACG Wealth now owns 18,979 shares of the construction company’s stock worth $717,000 after acquiring an additional 2,992 shares during the last quarter. BB&T Securities LLC acquired a new position in shares of Quanta Services in the 3rd quarter valued at $818,000. Stoneridge Investment Partners LLC increased its position in shares of Quanta Services by 44.7% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 37,061 shares of the construction company’s stock valued at $1,401,000 after acquiring an additional 11,446 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in shares of Quanta Services by 74.7% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 8,434 shares of the construction company’s stock valued at $317,000 after acquiring an additional 3,605 shares during the period. Finally, Quest Capital Management Inc. ADV acquired a new position in shares of Quanta Services in the 3rd quarter valued at $61,000. Institutional investors own 85.57% of the company’s stock.
Shares of PWR opened at $43.14 on Friday. The business’s 50-day moving average is $39.50 and its two-hundred day moving average is $37.34. The company has a market capitalization of $6.23 billion, a P/E ratio of 17.05 and a beta of 1.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.80 and a current ratio of 1.82. Quanta Services Inc has a fifty-two week low of $27.90 and a fifty-two week high of $44.09.
Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.17. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.17 billion. Quanta Services had a return on equity of 12.17% and a net margin of 2.81%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. Analysts forecast that Quanta Services Inc will post 2.98 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Monday, September 30th. Quanta Services’s dividend payout ratio is currently 6.32%.
In related news, VP Dorothy Upperman sold 5,764 shares of Quanta Services stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $43.86, for a total value of $252,809.04. Following the completion of the transaction, the vice president now owns 13,134 shares in the company, valued at approximately $576,057.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Jerry K. Lemon sold 2,750 shares of Quanta Services stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.70, for a total value of $120,175.00. Following the completion of the transaction, the chief accounting officer now owns 10,277 shares of the company’s stock, valued at approximately $449,104.90. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
Several research firms recently issued reports on PWR. Stifel Nicolaus upped their target price on Quanta Services from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. ValuEngine raised Quanta Services from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Stephens set a $42.00 target price on Quanta Services and gave the company a “buy” rating in a research report on Friday, August 16th. TheStreet raised Quanta Services from a “c+” rating to a “b-” rating in a research report on Wednesday, September 25th. Finally, Vertical Research began coverage on Quanta Services in a research report on Friday, August 23rd. They issued a “buy” rating and a $41.00 target price on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Quanta Services has a consensus rating of “Buy” and an average price target of $44.86.
Quanta Services Profile
Quanta Services, Inc provides specialty contracting services in the United States, Canada, Australia, Latin America, and internationally. Its Electric Power Infrastructure Services segment designs, installs, upgrades, repairs, and maintains electric power transmission and distribution infrastructure, and substation facilities, as well as provides other engineering and technical services; designs, installs, maintains, and repairs commercial and industrial wiring; and operates a postsecondary educational institution.
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