Foundations Investment Advisors LLC Buys 1,298 Shares of Quanta Services, Inc. $PWR

Foundations Investment Advisors LLC boosted its position in Quanta Services, Inc. (NYSE:PWR) by 108.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,499 shares of the construction company’s stock after acquiring an additional 1,298 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Quanta Services were worth $1,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Petros Family Wealth LLC boosted its stake in Quanta Services by 2.2% in the third quarter. Petros Family Wealth LLC now owns 1,101 shares of the construction company’s stock worth $456,000 after buying an additional 24 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in shares of Quanta Services by 1.2% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 2,250 shares of the construction company’s stock valued at $851,000 after purchasing an additional 26 shares in the last quarter. Carr Financial Group Corp grew its holdings in shares of Quanta Services by 1.8% during the 3rd quarter. Carr Financial Group Corp now owns 1,471 shares of the construction company’s stock valued at $610,000 after purchasing an additional 26 shares during the last quarter. Kathmere Capital Management LLC raised its position in Quanta Services by 2.8% in the 3rd quarter. Kathmere Capital Management LLC now owns 961 shares of the construction company’s stock worth $398,000 after purchasing an additional 26 shares during the period. Finally, Archford Capital Strategies LLC boosted its position in Quanta Services by 1.0% during the third quarter. Archford Capital Strategies LLC now owns 2,748 shares of the construction company’s stock valued at $1,139,000 after buying an additional 28 shares during the period. 90.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Argus set a $540.00 target price on Quanta Services in a research note on Friday, October 31st. Sanford C. Bernstein lowered their price objective on Quanta Services from $432.00 to $428.00 and set a “market perform” rating for the company in a research report on Friday, December 19th. Weiss Ratings upgraded shares of Quanta Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. Mizuho set a $415.00 price target on shares of Quanta Services in a report on Tuesday, October 28th. Finally, Evercore ISI raised their price target on shares of Quanta Services from $410.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $462.00.

Quanta Services Stock Performance

NYSE:PWR opened at $474.80 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The firm’s fifty day simple moving average is $448.17 and its 200 day simple moving average is $422.55. The stock has a market cap of $70.80 billion, a P/E ratio of 70.34, a price-to-earnings-growth ratio of 2.34 and a beta of 1.16. Quanta Services, Inc. has a twelve month low of $227.08 and a twelve month high of $489.05.

Quanta Services (NYSE:PWR) last posted its earnings results on Thursday, October 30th. The construction company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.24 by $0.09. Quanta Services had a net margin of 3.74% and a return on equity of 18.74%. The firm had revenue of $7.63 billion during the quarter, compared to analysts’ expectations of $7.41 billion. During the same period last year, the company posted $2.72 EPS. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, research analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Insider Transactions at Quanta Services

In other news, EVP Donald Wayne sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $443.81, for a total value of $6,213,340.00. Following the completion of the transaction, the executive vice president owned 34,575 shares in the company, valued at $15,344,730.75. This trade represents a 28.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Worthing Jackman sold 6,349 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $450.45, for a total value of $2,859,907.05. Following the completion of the sale, the director directly owned 2,730 shares in the company, valued at approximately $1,229,728.50. The trade was a 69.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 32,002 shares of company stock worth $14,295,857 over the last quarter. Insiders own 1.10% of the company’s stock.

Quanta Services Profile

Quanta Services, Inc is a leading specialty contractor that provides comprehensive infrastructure solutions for the electric power, pipeline and energy, and communications markets. Headquartered in Houston, Texas, the company delivers engineering, procurement, construction, installation, maintenance and repair services that support the development, modernization and ongoing operation of critical energy and communications networks.

In the electric power sector, Quanta works on transmission and distribution systems, substation construction and grid modernization projects that include integration of renewable generation and energy storage.