Quanta Services, Inc. (NYSE:PWR) Stake Raised by Tower View Wealth Management LLC

Tower View Wealth Management LLC lifted its holdings in Quanta Services, Inc. (NYSE:PWR) by 37.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,679 shares of the construction company’s stock after purchasing an additional 4,503 shares during the period. Quanta Services comprises 2.7% of Tower View Wealth Management LLC’s holdings, making the stock its 12th biggest holding. Tower View Wealth Management LLC’s holdings in Quanta Services were worth $4,973,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PWR. Terra Nova Asset Management LLC boosted its position in shares of Quanta Services by 0.3% in the 3rd quarter. Terra Nova Asset Management LLC now owns 12,779 shares of the construction company’s stock valued at $3,810,000 after purchasing an additional 38 shares during the period. Greenleaf Trust boosted its holdings in shares of Quanta Services by 1.2% in the third quarter. Greenleaf Trust now owns 3,154 shares of the construction company’s stock worth $940,000 after buying an additional 38 shares during the period. EP Wealth Advisors LLC increased its position in shares of Quanta Services by 0.6% in the second quarter. EP Wealth Advisors LLC now owns 6,994 shares of the construction company’s stock worth $1,777,000 after acquiring an additional 39 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Quanta Services by 0.7% in the 3rd quarter. Whittier Trust Co. now owns 5,894 shares of the construction company’s stock valued at $1,757,000 after acquiring an additional 39 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake in Quanta Services by 20.5% in the 2nd quarter. Westside Investment Management Inc. now owns 241 shares of the construction company’s stock worth $61,000 after purchasing an additional 41 shares during the period. 90.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction 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 owns 10,631 shares in the company, valued at $2,875,791.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $262.21, for a total transaction of $34,087,300.00. Following the completion of the transaction, the chief executive officer now directly owns 593,402 shares of the company’s stock, valued at $155,595,938.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karl W. Studer sold 23,357 shares of the stock in a transaction dated 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 transaction, the insider now owns 10,631 shares of the company’s stock, valued at $2,875,791.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,357 shares of company stock worth $53,115,572 over the last three months. Insiders own 1.10% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE PWR opened at $308.17 on Monday. The stock has a market capitalization of $45.11 billion, a PE ratio of 59.72 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.30. Quanta Services, Inc. has a 52 week low of $153.74 and a 52 week high of $317.91. The stock has a 50 day moving average price of $286.43 and a 200 day moving average price of $271.02.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the firm posted $1.47 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts predict that Quanta Services, Inc. will post 7.82 earnings per share for the current fiscal year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s payout ratio is presently 6.98%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. B. Riley increased their target price on Quanta Services from $286.00 to $303.00 and gave the company a “buy” rating in a report on Friday, August 2nd. UBS Group raised their price objective on Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird upped their target price on Quanta Services from $287.00 to $288.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Northland Securities raised their price target on shares of Quanta Services from $264.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Wolfe Research began coverage on shares of Quanta Services in a research note on Thursday, September 19th. They issued an “outperform” rating and a $313.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $308.07.

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.