Financial Enhancement Group LLC Takes $2.54 Million Position in Quanta Services, Inc. (NYSE:PWR)

Financial Enhancement Group LLC purchased a new stake in shares of Quanta Services, Inc. (NYSE:PWR) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,511 shares of the construction company’s stock, valued at approximately $2,538,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Allen Investment Management LLC increased its holdings in Quanta Services by 1,418.0% in the 1st quarter. Allen Investment Management LLC now owns 33,396 shares of the construction company’s stock valued at $8,676,000 after acquiring an additional 31,196 shares during the last quarter. Vanguard Group Inc. boosted its stake in Quanta Services by 0.6% during the first quarter. Vanguard Group Inc. now owns 16,341,230 shares of the construction company’s stock valued at $4,245,452,000 after buying an additional 105,355 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Quanta Services by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 36,862 shares of the construction company’s stock valued at $9,366,000 after buying an additional 1,981 shares in the last quarter. Cetera Investment Advisers increased its stake in Quanta Services by 115.0% in the 1st quarter. Cetera Investment Advisers now owns 39,274 shares of the construction company’s stock worth $10,203,000 after acquiring an additional 21,003 shares during the last quarter. Finally, Czech National Bank raised its holdings in shares of Quanta Services by 8.9% during the 2nd quarter. Czech National Bank now owns 27,827 shares of the construction company’s stock worth $7,071,000 after acquiring an additional 2,264 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Quanta Services from $313.00 to $367.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group initiated coverage on shares of Quanta Services in a report on Wednesday, September 4th. They issued a “hold” rating and a $256.00 target price on the stock. Robert W. Baird lifted their target price on Quanta Services from $320.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wolfe Research began coverage on shares of Quanta Services in a research note on Thursday, September 19th. They set an “outperform” rating and a $313.00 price target for the company. Finally, Northland Securities reiterated an “outperform” rating and set a $328.00 price target (up from $280.00) on shares of Quanta Services in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $314.27.

Quanta Services Trading Down 1.2 %

NYSE PWR opened at $310.82 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23. The company’s 50-day simple moving average is $292.81 and its two-hundred day simple moving average is $274.22. Quanta Services, Inc. has a one year low of $163.93 and a one year high of $317.91. The company has a market capitalization of $45.88 billion, a price-to-earnings ratio of 57.35 and a beta of 1.01.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, October 31st. The construction company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.26. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.56 billion. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.08 EPS. Equities analysts forecast that Quanta Services, Inc. will post 7.83 EPS for the current fiscal year.

Quanta Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date was Tuesday, October 1st. Quanta Services’s dividend payout ratio is currently 6.64%.

Insider Transactions at Quanta Services

In other Quanta Services news, CEO Earl C. Jr. Austin sold 130,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were 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 directly owns 593,402 shares in the company, valued at $155,595,938.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Karl W. Studer sold 23,357 shares of the business’s stock in a transaction that occurred 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 directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. This represents a 0.00 % decrease in their position. 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 90 days. Insiders own 1.10% of the company’s stock.

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.