92,000 Shares in Quanta Services, Inc. (NYSE:PWR) Bought by Meitav Investment House Ltd.

Meitav Investment House Ltd. acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 92,000 shares of the construction company’s stock, valued at approximately $27,430,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PWR. EntryPoint Capital LLC acquired a new stake in Quanta Services in the first quarter valued at $25,000. Salomon & Ludwin LLC acquired a new stake in Quanta Services in the first quarter valued at $26,000. Cambridge Trust Co. acquired a new stake in Quanta Services in the first quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new stake in Quanta Services in the second quarter valued at $33,000. Finally, Quest Partners LLC acquired a new stake in Quanta Services in the second quarter valued at $35,000. Institutional investors and hedge funds own 90.49% of the company’s stock.

Quanta Services Stock Performance

Shares of NYSE:PWR opened at $298.19 on Thursday. The firm has a market capitalization of $43.93 billion, a PE ratio of 58.77 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.30 and a quick ratio of 1.25. The business has a 50-day moving average of $288.27 and a two-hundred day moving average of $271.82. Quanta Services, Inc. has a 12 month low of $153.74 and a 12 month high of $317.91.

Quanta Services (NYSE:PWR) last announced its quarterly earnings results on Thursday, October 31st. The construction company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.46 by $0.26. The company had revenue of $6.49 billion during the quarter, compared to analyst estimates of $6.56 billion. Quanta Services had a return on equity of 16.29% and a net margin of 3.59%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.08 earnings per share. As a group, research analysts forecast that Quanta Services, Inc. will post 7.82 earnings per share for the current year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, October 1st. This represents a $0.36 annualized dividend and a yield of 0.12%. Quanta Services’s dividend payout ratio is presently 6.79%.

Insiders Place Their Bets

In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Earl C. Jr. Austin sold 130,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $262.21, for a total value of $34,087,300.00. Following the completion of the sale, the chief executive officer now owns 593,402 shares in the company, valued at approximately $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gerald A. Ducey, Jr. sold 15,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $257.93, for a total value of $3,868,950.00. Following the completion of the sale, the insider now owns 21,286 shares of the company’s stock, valued at approximately $5,490,297.98. This trade 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. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PWR has been the topic of several research reports. Wolfe Research initiated coverage on Quanta Services in a report on Thursday, September 19th. They issued an “outperform” rating and a $313.00 target price on the stock. Jefferies Financial Group started coverage on Quanta Services in a research report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 price objective on the stock. UBS Group upped their price objective on Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Northland Securities upped their price objective on Quanta Services from $264.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. started coverage on Quanta Services in a research report on Monday, October 7th. They issued a “neutral” rating and a $297.00 price objective on the stock. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Quanta Services currently has an average rating of “Moderate Buy” and a consensus target price of $308.07.

About Quanta Services

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.